Kucoin stole some of my funds

[Cementhead43]

Hi all, I’m talking to a lawyer about suing Kucoin. They delisted a token I was holding on the exchange and emptied my wallet of these tokens without ever contacting me. I’ve argued with them now for months to no avail. I’m checking in to doing a class action lawsuit. If anyone else has had this issue let me know.

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[Chikito]

Are you sure didn't received an email? From my experience, the exchange will notify the customer by email if want to delisted coin or token. Maybe you just missed them or was landed in the spam folder which will be expired in 30 days.

Kucoin also had an account here; KuCoin Exchange or asking in the thread [ANN] [EXCHANGE] KuCoin Exchange.

[Cementhead43]

Yes I’m sure they never contacted me. I check my junk mail every couple of weeks. Either way it doesn’t matter. Gvt is an erc20 token. They say they don’t support it but it’s an etherium address. The should never take funds from customer wallets. It was ove 6000 usd worth right now. How many other people have they stolen from?
Binance let’s you hold unsupported coins in your wallet on their exchange. Binance never confiscates your funds.

[uelque]

For years in Kucoin, I haven't experienced funds of mine being stolen by them. And as far as I know, Kucoin do not directly send notice to your email regarding token delisting. But it is being anounce by them, and you will be given enough time to withdraw it.

[robelneo]

You have to show proof first follow the right format, this is the first time that someone accusing them of stealing their coin, you have a poiunt and what you are saying may be true, I've checked the last notification I received on Kucoin that is in my email and it's already 5 months since, I don't know if others they land on the spam folder and gets deleted because spam emails get deleted, please mentioned the number of altcoins and their value

[ecnalubma]

Have you been inactive in crypto for years? But as per exchanges is concerned it should send you a notice that the coin your holding is about to be delisted. Maybe you can resolve that by showing them proofs, thats why its not practical to leave crypto in exchanges alone because we will never know what could possibly happen to them.

[Cementhead43]

I might have ignored my holdings for several months. That is no excuse for an exchange to empty a wallet of tokens. Listed or delisted should not matter. If a token is erc20 then it is an etherium token and used the etherium blockchain. No exchange should be taking tokens from your personal exchange wallet. It is theft! It’s like a bank taking money out of your account for no reason!
 You have to input codes and 2FA to make trades and withdrawals but Kucoin can remove funds with absolutely no contact to you? It’s theft!

[Little Mouse]

I might have ignored my holdings for several months. That is no excuse for an exchange to empty a wallet of tokens. Listed or delisted should not matter. If a token is erc20 then it is an etherium token and used the etherium blockchain. No exchange should be taking tokens from your personal exchange wallet. It is theft! It’s like a bank taking money out of your account for no reason!
 You have to input codes and 2FA to make trades and withdrawals but Kucoin can remove funds with absolutely no contact to you? It’s theft!

They have notified you through email to withdraw your holding from the exchange. Why didn’t withdraw at that time? Due to various reasons like low volume, they can delist the coin and you have agreed to follow their rules when joined Kucoin.
Anyway, as all the time they used to say, "Not your keys, not your coins." Be aware.

[ScamViruS]

All exchanges inform their customers in various ways before delisting any coin. Even after delisting, they give their customers some extra time to withdraw their held funds. If you keep your fund hold on an exchange, it is your responsibility to keep abreast of the latest updates on that exchange. Because exchanges delist different coins if those coins do not meet all their conditions. You are now in this situation for your own fault, I don't know how right it would be to blame kucoin here.

[Cementhead43]

I might have ignored my holdings for several months. That is no excuse for an exchange to empty a wallet of tokens. Listed or delisted should not matter. If a token is erc20 then it is an etherium token and used the etherium blockchain. No exchange should be taking tokens from your personal exchange wallet. It is theft! It’s like a bank taking money out of your account for no reason!
 You have to input codes and 2FA to make trades and withdrawals but Kucoin can remove funds with absolutely no contact to you? It’s theft!

They have notified you through email to withdraw your holding from the exchange. Why didn’t withdraw at that time? Due to various reasons like low volume, they can delist the coin and you have agreed to follow their rules when joined Kucoin.
Anyway, as all the time they used to say, "Not your keys, not your coins." Be aware.

There was no email notification to withdraw. You need to be an attorney to read and understand terms and conditions. Terms and conditions are an excuse for companies to rip you off.
There is no reason for Kucoin to remove funds from my wallet. They should be able to sit there for 100yrs.
Kucoin took my tokens and then sold them on another exchange.
Binance has never done that. They leave your wallet alone even after delisting. Funds should always be safe especially from the exchange they sit on.
Kucoin NEVER announced ending withdrawals.only the delisting. In the announcements for delisting they stated withdrawals would continue and announcements would come later regarding withdrawals.

[Beparanf]

They have the right to delist any token that didn't comply to there standards. You should always check your asset especially when it was stored on exchange because you don't have full control on your exchange wallet. I don't want to blame you on your misfortune but kucoin just do there protocol on delisting coin.

Store your coins next time on wallet that you have full control if really want to leave your token for a long period of time. Never leave your coin on exchange.

[Cementhead43]

They have the right to delist any token that didn't comply to there standards. You should always check your asset especially when it was stored on exchange because you don't have full control on your exchange wallet. I don't want to blame you on your misfortune but kucoin just do there protocol on delisting coin.

Store your coins next time on wallet that you have full control if really want to leave your token for a long period of time. Never leave your coin on exchange.

You are 100% correct they have the right to delist a token. The do not have a right to confiscate my tokens from my exchange wallet with no contact directly to me .

[Little Mouse]

Kucoin NEVER announced ending withdrawals.only the delisting. In the announcements for delisting they stated withdrawals would continue and announcements would come later regarding withdrawals.

Hey, I think you are missing something. I don't know if you can see the fund anywhere or not, have you checked your trading account? To inform you, Kucoin has two types balance. Main account and trading account. Please check both balance.
I just found that they haven’t stopped withdrawal yet according to this post, I can't find any more update. https://m.kucoin.com/news/en-delist-list-may

[Cementhead43]

Kucoin NEVER announced ending withdrawals.only the delisting. In the announcements for delisting they stated withdrawals would continue and announcements would come later regarding withdrawals.

Hey, I think you are missing something. I don't know if you can see the fund anywhere or not, have you checked your trading account? To inform you, Kucoin has two types balance. Main account and trading account. Please check both balance.
I just found that they haven’t stopped withdrawal yet according to this post, I can't find any more update. https://m.kucoin.com/news/en-delist-list-may

That’s why I say they never announced ending withdrawals. I’m not missing anything. You can no longer find gvt on their website. Not in the trading wallet not main account not anything.

[aioc]

That’s why I say they never announced ending withdrawals. I’m not missing anything. You can no longer find gvt on their website. Not in the trading wallet not main account not anything.

I wonder why they delist it has a good volume, is this GVT coin that we are discussing
GENESIS VISION you should discuss it with the support on why you did not get an announcement on the delisting in your email, you should get one, members usually get a notification before they delist coins, this is a big lesson for us, never entrusted your coins in any exchange, it's still better to hold your coin in your wallet, and deposit on exchange when you are ready to trade it.

[Cementhead43]

That’s why I say they never announced ending withdrawals. I’m not missing anything. You can no longer find gvt on their website. Not in the trading wallet not main account not anything.

I wonder why they delist it has a good volume, is this GVT coin that we are discussing
GENESIS VISION you should discuss it with the support on why you did not get an announcement on the delisting in your email, you should get one, members usually get a notification before they delist coins, this is a big lesson for us, never entrusted your coins in any exchange, it's still better to hold your coin in your wallet, and deposit on exchange when you are ready to trade it.

With the high cost to transfer coins on the etherium network it’s not feasible to keep in private wallet for most people. I basically threw away some tokens I have in MEW because the cost to transfer was half the value of the coins!
I had PRL which changed to OPQ which dropped in value significantly. Then OPQ changed to OPCT BUT transferring 750 tokens ($7.50) cost $5.00!

I have been arguing with Kucoin support for 2-3 months! My gvt now worth 7000.00!

[AmoreJaz]

That’s why I say they never announced ending withdrawals. I’m not missing anything. You can no longer find gvt on their website. Not in the trading wallet not main account not anything.

I wonder why they delist it has a good volume, is this GVT coin that we are discussing
GENESIS VISION you should discuss it with the support on why you did not get an announcement on the delisting in your email, you should get one, members usually get a notification before they delist coins, this is a big lesson for us, never entrusted your coins in any exchange, it's still better to hold your coin in your wallet, and deposit on exchange when you are ready to trade it.

more then likely, this will not be another lost battle. read again their terms and conditions before hiring a lawyer. because your resources may just be wasted for nothing. this is the reason why it is always to keep your coins or tokens in your own wallet that you have full control especially if you are not actively trading. because there are updates or news that you will be missing out and it is already too late before you realised it.
btw, have you reached out to their support, in telegram, they usually reply fast and see if you can still recover your funds.

[goaldigger]

You’re seeking for a legal battle then you must have a good documentation because an exchange will always sent a notification to all the users before they delist a specific coins/tokens, usually months before doing that.

Kucoin didn’t stole your funds, you just missed the announcement which I also believe you did. Also, the team of the project you’re holding for sure did their announcement online, again you maybe missed this one too.

[Cementhead43]

You’re seeking for a legal battle then you must have a good documentation because an exchange will always sent a notification to all the users before they delist a specific coins/tokens, usually months before doing that.

Kucoin didn’t stole your funds, you just missed the announcement which I also believe you did. Also, the team of the project you’re holding for sure did their announcement online, again you maybe missed this one too.

Yes I have documentation. Even to this day they have no history of announcements for ending the withdrawal of gvt.

[dihari]

There's some periods before an exchange disappearing some tokens. There must be an email notification sent to users emails, they also give a notification on app regarding delisting token. After that, they will close the trade and only let users to withdraw the token. It process takes about 2 weeks. And deleting token from exchange takes month.
I am not trying to depend kucoin, but if you missed these notifications, it means you're not online for months. You should have listened people to not to save your tokens on exchange. As I know they good in support. Super fast response and always have solutions.
If you have documentation and history of buying or deposit, you should get it back. Good luck