HitBTC is a Scam Exchange
💵 HitBTC scams by creating endless obstacles to people trying to access their funds.
🗄 They make deposits incredibly simple while making withdrawals incredibly hard.
👤 Crypto deposits never require KYC.
🪧 When you sign into HitBTC, there is no indication that KYC is required for withdrawals.
📤 Their platform says you can withdraw certain amounts with no KYC. In their ToS though, they make sure to add a clause which says they might require KYC in certain circumstances.
📨 Most users assume that they will be able to withdraw crypto funds without KYC. That is what HitBTC wants you to believe.
How does HitBTC scam you?
✔️ They delete your 2 FA code (of course, with funds on your account), requiring you to go through 2FA recovery process. This takes ages, and they require a bunch of personal and transaction info.
✔️ They pretend as if you lost your 2FA device, but actually, they just manually remove it on their end.
✔️ They expect a good amount of people will never be able to complete 2 FA recovery. It's a lengthy process, and their support is slow to answer.
✔️ They will act like they're trying to help you, but really their entire business model revolves around wearing you out. They get a good amount of crypto to keep just from people not being able to complete the 2 FA recovery.
✔️ Now, 2 FA recovery can eventually be completed. It takes a few weeks, maybe months at this point. The customer will be lead to believe they are getting somewhere.
✔️ The support will say they have a four day freezing period on your funds for safety, after which you'll be back to normal.
✔️ After the four days when you try to withdraw your funds the withdrawal will still fail.
✔️ Even if it's well within the stated withdrawal limits, HitBTC will fail your withdrawal. They won't even tell you why. You'll need to follow up with support all over again.
✔️ Support is going to eventually tell you that you need to KYC. They'll quote some vague legal reason and claim to be just following the rules.
✔️ HitBTC is a sketchy crypto exchange in the Seychelles. A faceless organization. They are not legally required to KYC you, but they say they must.
✔️ They'll ask for photo ID, proof of residence, what the coins are for.
✔️ They ask for these things one at a time, with incredibly slow response times.
✔️ They even ask for new versions of the same thing, higher resolution, higher quality, better lighting.
✔️ The goal is wear you down. They will do whatever they can for you to just give up.
🚨This is how they make their money. They make their money by putting endless obstacles between you and your funds. You won't find any real people linked to the HitBTC platform.