HitBTC invites wrath of Bitcoin community on Proof of Keys day
The proof of keys celebration called upon by Trace Mayer, the blockchain expert, is set to happen today. The event has drawn much attention from the bitcoin community as Mayer asked Bitcoin investors to withdraw their bitcoins from exchanges that do not give them access their private keys. This campaign was triggered by the irregularities noticed in the trade volume on exchanges.
The proof of keys celebration has already got some participants with some tweeting that they have regained control of their Bitcoin after withdrawing funds from exchanges.
Mayer launched a campaign against crypto exchanges that didn’t give users access to their private keys on December 9. He asked the investors to withdraw all their assets from exchanges on or before January 3, the anniversary of Bitcoin genesis block. He initiated the campaign following a report from the blockchain transparency institute which alleged that many exchanges including OKEx were involved in wash trading.
The true BTC top 10 trading pairs when our algorithms determined exchanges with real volume and adjusted the rest. Check our latest report for more pairs: https://t.co/XKC33QyUdR – @cz_binance @binance @bitfinex @coinbase @CoinbasePro @bitFlyer @krakenfx @UPbitExchange @Gemini pic.twitter.com/pJ0EGb296F
— Blockchain Transparency Institute (@BTI___) December 14, 2018
Maybe Mayer was actually right! HitBTC, a major crypto exchange accused of wash trading, froze withdrawals ahead of the Proof of keys day. Many users took to the social media to say that withdrawals were disabled on their account evoking suspicion from the crypto community. “I do not have an account. Asked a friend to initiate a withdrawal. BEWARE!… Result: ‘Withdrawals are temporarily disabled on your account,” tweeted Mayer. John McAfee, the Bitcoin evangelist, replied to the incident saying “I told you so”.
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