Bitcoin celebrated its 10th birthday on Jan. 3, and in commemoration of this milestone, the very first Proof of Keys event was held. Organized by crypto investor and podcast host Trace Mayer, it urged cryptocurrency traders to withdraw their holdings from crypto exchanges, in order to promote the decentralization and monetary independence on which Satoshi Nakamoto's vision for Bitcoin was founded.
However, as ostensibly positive as its message was, it was claimed on social media in the days leading up to the event that several exchanges — most notably HitBTC — had apparently been freezing accounts and preventing users from withdrawing their funds.