Mirror Protocol (MIR) held "hostage" on KuCoin

[btrackdown]

Group,

I live in the US and have been a KuCoin customer for 3 years.  This year they have disallowed US citizens to trade on their exchange.  I own a sizable stake in Mirror Protocol (MIR) that I would love to move to one of my other exchanges or even a cold wallet.  Problem: KuCoin is ONLY allowing withdrawals of MIR via the LUNC Network and not via ERC20.  It would be no issues if they allowed ERC20 since many hot and cold wallets would allow it but they don't.  To make matters worse, they now gave a deadline of 4/28/2024 to move my MIR or lose it.  I suspect they are limiting the withdrawals only via the LUNC network of MIR since they know no other exchange, hot wallets or cold wallets will accept it which is their way of "stealing" my tokens, now valued at over $15,000usd.

I would even entertain creating a paper wallet but do not know if it is possible with a LUNC Network address to move my MIR.

HELP!!!

[Bureau]

I don't want to sound nasty but your first post is about getting help from one of us who is active. None of us would believe in you unless you provide proof of your problem. I have never used Kucoin but I do not think they would come up with such a shady idea. I did check whether they have listed this token on coingecko and it seems they are not listed on the list where it is being traded. I checked coinmarketcap and found that they are not listed on Kucoin according to the exchange list. Next time come up with some concrete points to get support from the community.

[Yogee]

That sounds unfair and unprofessional of Kucoin if that's what they really said. I don't see any valid explanation as to why they would not allow you to withdraw via Eth chain since they can always charge you withdrawal fees to cover for the high gas.

Have you tried asking the MIR Protocol community if they know of any hot or cold wallets that supports the Terra Luna network?
You can also contact some known mid-tier exchanges if they support it. One that comes to mind is MEXC. https://www.coingecko.com/en/coins/mirror-protocol#markets

[btrackdown]

MIR was on KuCoin up until 10/26/23 when it got delisted on their exchange, they terminated US citizens from trading earlier this year.  Kraken still has it listed and tradable but they only accept deposit via ERC20.  I have tried multiple times with KuCoin and they keep telling me that withdrawals via ERC20 are under maintenance and not at this time, this has been for over 5-6 weeks now.  They only allow MIR withdrawals via LUNC network.

[btrackdown]

Yogee, Just tried MEXC and they also only allow despots via ERC20 for MIR.  All exchanges seem to only allow ERC20

[o48o]

I don't want to sound nasty but your first post is about getting help from one of us who is active. None of us would believe in you unless you provide proof of your problem. I have never used Kucoin but I do not think they would come up with such a shady idea. I did check whether they have listed this token on coingecko and it seems they are not listed on the list where it is being traded. I checked coinmarketcap and found that they are not listed on Kucoin according to the exchange list. Next time come up with some concrete points to get support from the community.

I have no reason to believe or not to believe OP but kucoin is shady as hell, so that check outs in my books. It has been so from the start. Right from the start, they just removed dividends from people who bought their token, without any repercussions. Yes, i knew dividends were illegal, but the fact they didn't or didn't care made it really shady.

Helpdesk in there is pointless as most of us here know more about crypto then them. So they basically just need to put you in hold and ask for the supervisor. None of them speak decent English and communication is lost in translation. Which is weird as there are currently very capable translation programs, yet they fail in basic English. Just try to find one good review about their helpdesk. I just gave up and left the site. I had better customer support from actual scammers.

[Kelward]

That sounds unfair and unprofessional of Kucoin if that's what they really said. I don't see any valid explanation as to why they would not allow you to withdraw via Eth chain since they can always charge you withdrawal fees to cover for the high gas.

Have you tried asking the MIR Protocol community if they know of any hot or cold wallets that supports the Terra Luna network?
You can also contact some known mid-tier exchanges if they support it. One that comes to mind is MEXC. https://www.coingecko.com/en/coins/mirror-protocol#markets

I've not used Kucoin, before and hearing about how unfair they are to their customers will not make me not to consider their services. I think that exchanges should be sincere in their dealings and try to make transactions easier for their customers, after all in the OP case, it is not customers fault that Kucoin, has issues with US government, this should have made them to consider withdrawals through convenient means.

This goes to show the importance of not leaving your coins in an exchange, if they have any issues then your coins will be difficult to withdraw. We should always remember that if it's not your keys then it's not your coins, always rely on your none custodial wallets, because only you have the passwords and seed phrase.

[pakhitheboss]

I live in the US and have been a KuCoin customer for 3 years.  This year they have disallowed US citizens to trade on their exchange.  I own a sizable stake in Mirror Protocol (MIR) that I would love to move to one of my other exchanges or even a cold wallet.  Problem: KuCoin is ONLY allowing withdrawals of MIR via the LUNC Network and not via ERC20.  It would be no issues if they allowed ERC20 since many hot and cold wallets would allow it but they don't.  To make matters worse, they now gave a deadline of 4/28/2024 to move my MIR or lose it.  I suspect they are limiting the withdrawals only via the LUNC network of MIR since they know no other exchange, hot wallets or cold wallets will accept it which is their way of "stealing" my tokens, now valued at over $15,000usd.

I would even entertain creating a paper wallet but do not know if it is possible with a LUNC Network address to move my MIR.

HELP!!!

Before Kucoin implemented strict KYC norms I had used the CEX a few times but never continued. This is the reason why everyone here advocates not your key, not your coin and your issue is one of example why users should avoid holding coins on them. Nothing can be done now as they would have changed their policy about MIR. All you can do is be patient and request them to release your funds. The worst they can do is say No to you other than that you would suffer loss, the alternate option is to transfer your token through the LUNC network to other exchanges that support it and then convert to ERC20. 

[Smartvirus]

I don't want to sound nasty but your first post is about getting help from one of us who is active. None of us would believe in you unless you provide proof of your problem.

For real, are you being serious right now!

Maybe you don’t believe the user but I do and am sure a lot more other users do as you can see with the responses that precedes yours. I don’t know how am sounding right now but, am just surprised you would say so about a user who is only asking for directives.
It doesn’t matter if this is the user’s first post. For all I care, it could be that, the user’s enquiries on possible places to get help brought this user here and you wouldn’t expect the user to go about creating some activity rather than trying to achieve his or her purpose.

Maybe, after sorting this out, this user would find some more use of this space. It’s cool being curious on your first activity on the forum, so long as it’s directive and not expecting anyone to give you the keys to their wallet, password, loans and other form of financial aids.


I think Kucoin have done the right thing in updating you guys on the changes that is to come @OP but, they would do the most to ensure easy processing of these transactions. Perhaps a swap and then have it sent out in some other altcoin. Am guessing that wouldn’t be the case but, you could research on CEX that uses this protocol as, I can’t tell, am not a big fan of altcoins but, your welcome to seek what solution you could find, it’s what the forum is about.

[electronicash]

can't you just sell it and move on to another altcoin?

seem logical to me to do this since they are not allowing ERC20 to be withdrawn. do they allow BEP20, iff it looks possible to sell for BNB i will also do it.
the project is just the same as the rest of the project. if i could move to another exchange wallet or my private wallet, i would try withdrawing it on BEP20.  there are just two market ETH and BNB

[chemicallybitcoin]

I don't want to sound nasty but your first post is about getting help from one of us who is active. None of us would believe in you unless you provide proof of your problem. I have never used Kucoin but I do not think they would come up with such a shady idea. I did check whether they have listed this token on coingecko and it seems they are not listed on the list where it is being traded. I checked coinmarketcap and found that they are not listed on Kucoin according to the exchange list. Next time come up with some concrete points to get support from the community.

What was posted is true about the coins being "mostly" trapped. There is a way to get them off Kucoin to Terra station wallet (desktop app) but then they are stuck here as it does not seem possible to sell MIR on the terra classic chain to LUNC anywhere so that the LUNC could be sold in the future.

If ERC20 was still enabled, which has been offline for 6++ months on Kucoin, users would have been able to transfer to another CEX and sell at a loss and claim towards tax. This can't be done now so Kucoin has screwed any MIR token holders!

[chemicallybitcoin]

Group,

I live in the US and have been a KuCoin customer for 3 years.  This year they have disallowed US citizens to trade on their exchange.  I own a sizable stake in Mirror Protocol (MIR) that I would love to move to one of my other exchanges or even a cold wallet.  Problem: KuCoin is ONLY allowing withdrawals of MIR via the LUNC Network and not via ERC20.  It would be no issues if they allowed ERC20 since many hot and cold wallets would allow it but they don't.  To make matters worse, they now gave a deadline of 4/28/2024 to move my MIR or lose it.  I suspect they are limiting the withdrawals only via the LUNC network of MIR since they know no other exchange, hot wallets or cold wallets will accept it which is their way of "stealing" my tokens, now valued at over $15,000usd.

I would even entertain creating a paper wallet but do not know if it is possible with a LUNC Network address to move my MIR.

HELP!!!

There is a way to get them off Kucoin to the Terra station wallet (desktop app). Open the desktop app and change the network to Terra classic and you will see your coins. However, they will then be stuck in this wallet as it does not seem possible to sell MIR on the terra classic chain to LUNC anywhere so that the LUNC could be sold in the future. The swap function on the Terra station for classic network does not have a swap function. It links to a website that does not support the classic network. So it is useless.

I have spent over 4 hours trying to solve this but can't find a way to sell MIR on the classic chain to anything else...

[chemicallybitcoin]

I found this site off the terra discord server:

https://app-classic.terraswap.io/

There was no liquidity for a MIR-LUNC swap so I swapped MIR to UST (now USTC). It is worth almost nothing but at least now I can claim a tax loss.

If you have a huge amount of MIR then this probably won't help much as there is very low liquidity but may as well try.

Good luck...!