The event of the “Proof of Keys” has aimed against the centralized exchanges is now happened on the 3rd of January by the Trace Mayer, the bitcoin investor.
With respect to the Proof of Keys, it is necessarily a bank which runs on the centralized exchanges, where the activists are merely called to transfer and withdraw all their funds of cryptocurrency from the platform and to simply keep its stored in the safe wallets of their own. The idea behind that is that to make sure that the cryptocurrency will remain safe.
Mayer further says:
“What if some of these exchanges have been dipping into customer assets because [it is easier] to make payroll […] than it is to fire people?”
Some of the reports suggested that the HitBTC, which is the largest crypto exchange wallet is freezing out the users’ accounts so that they can’t withdrawal on the account of “proof of keys”. Some of the other crypto exchange which even includes the McAfree, wallet Biti and the Tuur Demeester, the largest entrepreneur.
But the HitBTC has withdrawn all the allegations from it. In the comment, they clarify that there is no link between the account freezes and any of the event which is going. He also revealed in an email:
“These temporary, safety-related withdrawal freezing’s are a direct consequence of our international KYC [Know Your Customer] and AML [Anti-Money Laundering] measures… These rules exist and apply to us and everybody, 24 hours a day, 365 days of the year. Therefore, we do not turn off any security tools or checks, ever. Not on regular days, and not on special days; including events and flash mobs such as Proof of Key Day.”
Some of the American Economists also revealed in a report that “the mother or father of all scams and bubbles,” has stated that crypto is also more centralized than North Korea. Roubini said that crypto decentralization is a “myth,” adding:
“…miners are centralized, exchanges are centralized, developers are centralized dictators (Buterin is “dictator for life” ) & the Gini inequality coefficient of Bitcoin is worse than North Korea.”
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