Cryptocurrency Exchange

One Reddit User Threatens HitBTC Crypto Exchange of a Legal Action

cryptocurrency exchange

The role of any Crypto-exchange in the market is to connect investors and traders with their assets.  These exchanges have a significant role to play in a very market. Exchanges keep making efforts to build a smooth secure and faster system through which investors and traders can interact with each other through P2P connection. However, this is not as easy as it looks and it is indeed not simple, given the uncertainty prevailing in the market.

HitBTC is a cryptocurrency exchange which got attacked and criticized recently by one Reddit user. This complaint is not the first complaint; many users/customers/investors and traders have raised their voice against the unprofessional services provided by the exchange.

Feedback and criticism can be given very quickly in the age of the internet and smartphones. And when we are talking about the crypto-world specifically, the impact is even more severe as most of the crowd is tech savvy.

Social media networks like Twitter and Facebook are used to manage blockchain projects. Investors, traders, entrepreneurs all are present here. HitBTC gets benefited from the internet as it helps in gaining the required exposure. But it faces lots of criticism from the internet itself; especially from platforms like Reddit.

Very recently, one Reddit user has used this platform to express his disappointment with the services provided by HitBTC. The Reddit account holder has a username ‘Vandenhof’. He used subreddit to express his anger and managed to attract a couple of other HiBTC victims too. One of the common and crucial issues mentioned in the subreddit was the issues with the KYC procedures. KYC drill of HitBTC is claimed to be unclear by the Reddit user.

Vandenhof has been trying to attract attention to these issues since 2017. He himself could not leave the exchange as some amount of funds are still with the exchange which is yet to be claimed back by him. Even after the recurrent notices, the exchange is not working on his wish to get the money back.

However, the latest update in this matter will surely blow the reader’s mind. Vandenhof has posted that he might take legal help to settle the matter with HitBTC. Right now nobody has expressed support for him officially. His subreddit also revealed that HitBTC is yet to reach the level of professionalism and efficiency which is needed to gain goodwill in the market.

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