Crypto trade KuCoin has responded to claims on social media platform Reddit of customers being unable to withdraw their funds from the trade.
On Feb. 21, Reddit customers began posting claims within the KuCoin subreddit that they may not withdraw their funds from the trade. One Redditor said they’ve already been locked out of their funds for 4 months. The user claimed they’d already offered all the data that KuCoin requested for however nonetheless didn’t obtain any motion from the trade.
One other Redditor shared that their account has been blocked for 2 months. The user claims that KuCoin responded to them with some “severe allegations,” saying that it acquired a report that the account was concerned in sure crimes like fraud, stealing of tokens or hacker assaults, with adequate proof. Nonetheless, the Reddit user claims they haven’t acquired any particulars from the trade.
As well as, one user said that $30,000 price of their Monero (XMR) tokens have been frozen by the trade. In the meantime, one other neighborhood member reported that their withdrawal capabilities have been frozen regardless of having a verified account with years of utilization.
The studies on Reddit triggered discussions amongst customers and speculations on the causes of the studies. Some thought the difficulty may be associated to Know Your Buyer checks, whereas others warned customers to “get out” to keep away from potential issues with their digital property.
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Nonetheless, KuCoin assured customers that it was already attempting to resolve the issues reported on the subreddit. Eden Gao, KuCoin’s international public relations and branding affiliate, advised Cointelegraph that for all 4 circumstances posted on Reddit, moderators are already speaking with the customers to resolve their points. Gao defined that the trade would preserve the dialog going and supply options to every case. The KuCoin consultant added:
“Please notice that KuCoin doesn’t freeze user accounts nor prohibit customers from disposing of their property. To boost user safety, KuCoin implements a complete danger management system and voluntarily cooperates with authorities or regulation enforcement organizations all over the world to improve our observe.”
The KuCoin consultant additionally talked about that because the trade has 31 million customers worldwide, some customers “may expertise some disruptions.” Nonetheless, Gao assured the neighborhood that KuCoin has designated help members throughout public platforms, reminiscent of X, Telegram, Reddit and others.
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Cointelegraph by Ezra Reguerra KuCoin responds to claims of user funds being locked cointelegraph.com 2024-02-22 13:08:35
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