Europe-based digital currency exchange HitBTC has reportedly frozen its clients’ account ahead of the Proof of Keys event, which is scheduled to be held on January 3rd. The annual Proof of Keys event is part of a movement started by Trace Mayer, a well-known bitcoin (BTC) investor and host of the Bitcoin Knowledge podcast. Those who participate in the event withdraw their digital currency from centralized exchanges (or any other third-party service) every year on January 3rd. The purpose of withdrawing funds is to determine whether third-parties can be trusted with managing users’ assets.
