May 23, 2019
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HitBTC insolvency brought into question as new research points to red flags

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The cryptocurrency market has had its fair share of controversies, with the latest report from Cointelligence speculating that HitBTC, a popular cryptocurrency exchange, might be insolvent. Cointelligence has claimed that HitBTC has only $3 million in Bitcoin [BTC] and Ethereum [ETH] across its wallets. This information was provided by a cryptocurrency organization called Coinfirm.

The report has covered four different areas where HitBTC’s data did not match up to what was expected: proof of reserves, withdrawal issues following its new KYC/AML policy, increased withdrawal fees as well as the company’s team.

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AMBCrypto · News

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