Is it possible to justify technical problems in a business by saying that it is too big and any inconvenience is normal because of the number of users? Yes, it absolutely is! Especially if you are KuCoin! A little case of gaslighting happened the other day on Reddit. Let’s look into it!
Related: Gate.io Review 2023 – Full Overview of Gate.io Crypto Exchange
KuCoin Users Faced Some Problems…
… and wrote about it on Reddit. Rightly so, you should never be left alone with your troubles. Especially when it comes to your digital assets!
On February 21st, people on the KuCoin subreddit started sharing that they couldn’t get their money out of the exchange. Several users claimed that their withdrawal requests were cancelled, due to… God, who would tell you for sure? So, some users received the following message:
On that day, the subreddit transformed into a hotspot of distress as users started sharing their brutal experiences of being unable to withdraw their funds. The story of one user was particularly strange. And to be honest, don’t align with the “one of the best crypto platforms” positioning!
So, basically, this user was like:
One of the Redditors said that KuCoin had already blocked his funds for four months (What?). Of course, all this time he tried to solve that (who wouldn’t?! Where to get $4800!)
The user claimed that by that time, he had already provided all the information requested by KuCoin, but still had not received any action from the exchange.
After reading this carefully you’ll understand that it’s not a simple cancellation! The user used the “stolen” word. Literally accusing the crypto platform of stealing his funds! This disturbing case though, and it is not the last!
Furthermore, a user reported that the exchange had frozen $30,000 in Monero tokens in their account.
Translating from the rage language: all necessary information was given! WTF then?
In a similar vein, another member of the community shared that, despite having a verified account with years of usage, their withdrawal capabilities were unexpectedly locked.
Did KuCoin Remain Silent?
Initially, users sought to unravel the issue on their own. Many speculated that the trouble could stem from issues with Know Your Customer (KYC) verification processes. Meanwhile, there were voices in the community advising others to “log out” as a precautionary measure to safeguard their digital assets from potential issues. In other words:
The official KuCoin commentary said that everything was under control and everyone was already trying to solve the problems. Eden Gao, KuCoin’s global public relations and branding associate, said that specialists on Reddit are working to resolve all the issues.
Please note that KuCoin does not freeze user accounts nor prohibit users from disposing of their assets. To enhance user security, KuCoin implements a comprehensive risk control system and voluntarily cooperates with authorities or law enforcement organizations around the world to enhance our practice.
Eden Gao
This is a very dry answer! But the following point is even more infuriating: “The KuCoin is the exchange has 31 million users worldwide, that’s why some users may experience some disruptions”.
Have you heard it? Regular readers of Reddit are more sensitive to the problems of others:
That’s why don’t forget the main rule: Not your keys, not your coins! And probably keep your lives open with KuCoin!
More Info:
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