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KuCoin customers confronted a ban on funds

Q Queen

February 21 Reddit customers Publishing has begun Messages on the KuCoin subsite about issues with withdrawing funds from the cryptocurrency alternate.

"On October 18, I transferred $4,800 to KuCoin. My mistake is that the money was sent from the company's corporate account, so the exchange did not accept it. On November 6, I received a message about the refund, but almost four months later," the creator of the publish mentioned. "I haven't received it yet."

According to the consumer, he has already supplied the buying and selling platform administration with all of the required data. The financial institution the Redditor used, HSBC, was unable to assist as a result of "the funds were incorrectly deposited."

Another Subreddit member talked aboutHis account was blocked for 2 months. KuCoin introduced "serious accusations" towards him and mentioned the account was getting used for felony functions. But the inventory alternate didn't present particulars concerning the investigation.

In addition, Q-Coin I froze Monero tokens price round $3,000 from one other consumer. Another consumer too He complained To forestall withdrawal of funds.

some SupposedlyThat drawback could also be associated Know your buyer-System. Parallel editors Named Users ought to "leave" the platform to keep away from potential issues.

According to KuCoin, moderators are already trying into incidents reported on the subreddit.

Public Relations Specialist Eden Zhao shared within the dialog Cointelegraph She acknowledged that the administration is speaking with customers concerning all 4 circumstances.

“KuCoin doesn't freeze consumer accounts or forestall them from managing their property. To enhance safety, the alternate implements a complete danger management system and voluntarily cooperates with authorities and legislation enforcement companies around the globe to enhance the service.

A KuCoin consultant confirmed that some customers “may experience disruptions” because the platform serves greater than 31 million accounts.

In November 2023, Russian-speaking Bitget clients complained that funds had been frozen. Exchange representatives described these calls as “misinformation.”

In January 2022, Binance clients confronted a number of account bans. As it turned out later, the case was linked to the case of the cryptocurrency alternate Pizzalato, which was accused by US authorities of laundering $700 million for the “dark web” market Hydra.

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