Crypto Scammers - HitBTC.com and Bitcoin Unlimited/AMM

The cryptocurrency world is now rife with scams, get rich quick schemes, and promises of immense returns. I realize most of us know better, but the people now entering the cryptosphere more than likely don't. In this series, I hope to warn people off of specific sites and trends before they ever make the mistake of transferring crypto or fiat there.

Does anyone remember, in ancient, pre-Bcash, pre-Segwit2 times, the Bitcoin Unlimited proposal? It was a forthcoming fork that promised to solve some of the problems that the Lightning Network and various new BTC forks proposed to eliminate. So, sounded like a possible opportunity, right?

HitBTC, I found out, as the only site offering Bitcoin Unlimited. You know the importance of getting in a new crypto early on. It might have been a long shot, but there seemed to be no real harm in throwing a little BTC behind it. So I got an account and sent, I believe, .1 BTC (now $2000) to it, and bought the equivalent in BTU.

Then I watched it rapidly tank to .01 in value before I dumped it.

Oh, well. That's the way things go sometimes, right?

Except... there was no BTU. And what I bought was not actually BTU. It was...nothing. A future promise for BTU, if it happened. But nowhere on the site did it indicate that. To this day, I'm amazed they are still in business, and I heard no real outcry from the community, no statements condemning them from the Core developers. Just a huge scam.

So, if you Google HitBTC, you can find a plethora of horror stories regarding them. Needless to say, any site that would perpetuate a scam of this nature should be avoided at all costs. They are definitely people I would punch in the face.

The fault is mine, ultimately. While the crypto market does move fast, and timing/early adoption is the key to successful investing, if you can't take a few hours or days to fully investigate what you're getting into, you can and should expect to be burned a few times.

But this is ancient history in the fast-paced crypto world. Which is why newcomers to the realm need to know to avoid the entirely unscrupulous HitBTC at all costs.

PART TWO

Boom! Did I not just tell you guys about HitBTC?

From Facebook: "Anton Dziatkovskii
8 hrs ·

We sincerely apologize for the hitBTC situation. We are currently investigating how this could have happened and preparing the official statement. It will be given after hitBTC comments the issue. Please do not trade until our statement.
#micromoney #cryptocurrency #blockchain #bitcoin #ico #ethereum #initialcoinoffering #Coinschedule #crypto #token #coin #eos #bancor #everex #civic #Tezos #sonm #Storj #aragon #taas #GNOSIS"

HitBTC.com needs to be shut down. This is because you guys ignored their Bitcoin Unlimited scam...