[SCAM] KUCOIN, STOLEN FUNDS suicide reason

[moetazmeddeb]

My name is moetaz meddeb, hope that my post helps someone to avoid Kucoin as I will be taking my own life after making this post, I had my entire life savings in Kucoin, I trusted that CEX. After depoing crypto from my main wallet and trying to withdraw 27 xmr they decided to mark my withdrawal as pending for approval in order id 6a7d43c75771400007823fcb. I received an email saying "Urgent: Provide Proof of Source of Funds for Recent Deposit"

To comply with AML regulations and unfreeze your assets / continue using our services, please provide Proof of Source of Funds (SoF) for the recent deposit within three calendar days by below link.

Failure to provide the above within three days will result in permanent freezing of the deposited assets and possible account restrictions.

I have only 3 days to recover my life savings. Their customer service is the absolute worst and only gives out robotic answers, they ask for 8. Source of Funds
Salary / Employment income/Sale of property/Sale of shares / securities/ 3 month Bank Statements with related transactions 9. Source of wealth
ex: Investments, Bank Deposit, Asset Sales, Bank statement, Saving Account, etc
Provide proof of your crypto sources. To effectively prove the source of funds for your deposit to KuCoin, you need to provide at least two layers of transaction history tracing back the funds;


I live in algeria and dont even have a bank account. All of my money was made through freelancing and they wont take it as an source of funds.

AVOID THEM AT ALL COSTS

[The Cryptovator]

Sorry for your loss. From the forum's end, we can’t do much about such allegations since they aren’t responsive here. Only the exchange authorities would help you to recover your funds, try to comply and explain your situation. Even if you earned through freelancing, you should have proof of funds.

On the other hand, you should check from where funds came into your exchange account and make sure these funds were clean. If an exchange finds any suspicious transactions, then they ask for such documents. Talk with support or mail them; try to reach them from all the ends.

[logfiles]

Firstly sorry for the loss but your life is nor worth 27 XMR so please don't take your own life. I still feel you can get your money recovered to if you convince them that the money was got through freelancing. You can show them the transaction trails and the tasks you did to get paid those amounts

lastly never trust any centralized crypto exchange with all your life-saving.

[RGBTC]

Consider the phrase: "Provide Proof of Source of Funds for Recent Deposit."

So, which coin did you deposit, and what was the time gap between the deposit and the withdrawal? I don't expect the answer to be XMR, because it's clear they view that as a potential attempt at "money laundering."
Also, was 27 xmr a withdrawal of your *entire* savings? I hope you'll hold off on any plans to commit suicide; I still have a few more questions.

[Dave1]

It's not worth it mate to take your life. I know it's a big money and you work very hard for it. But just imagine the love ones that you are going to left if you do this.

Maybe you can reach out to their official social media accounts so that you can get their attention to look at your issue and perhaps there could be a solution as you can explain it to them your cases. I'm not sure though why you uses XMR though, as it is being blacklisted by most exchanges. Although Kucoin might have listed it, doesn't mean that it's safe to used it because of AML.

[ryzaadit]

Not trying to be skeptical.

27 XMR = around 400 USD. Pretty rare to exchange ask for some proof-of-fund with this amount cause is pretty low. Perhaps you could try to export every deposit you've made with Kucoin. Share in here, and other maybe can somehow track too for helping.

I guess these could somehow trigger some warning for the transaction from activity prohibited against their term & condition. Anyway, where did you do the freelance? In some freelancing website? If yes would be very nice to contact them for maybe a bit of help to verified all the payment you're receive are legitimate from the freelance. Hopefully they can accept those as proofs for the payment you're receive.

[Trêvoid]

Not trying to be skeptical.

27 XMR = around 400 USD. Pretty rare to exchange ask for some proof-of-fund with this amount cause is pretty low. Perhaps you could try to export every deposit you've made with Kucoin. Share in here, and other maybe can somehow track too for helping.

I guess these could somehow trigger some warning for the transaction from activity prohibited against their term & condition. Anyway, where did you do the freelance? In some freelancing website? If yes would be very nice to contact them for maybe a bit of help to verified all the payment you're receive are legitimate from the freelance. Hopefully they can accept those as proofs for the payment you're receive.

27 XMR is currently valued at 10,668.41 USD

CEXs often trigger automated AML reviews. The first step is never using a CEX to exchange crypto.

[NotATether]

Forget the XMR for a moment. You need to get help.

27 XMR is a little over $10k. I have lost over $30k in unrealized gains on Polymarket and I'm still here (interesting story if you want to hear that). It's not the end of the world.

You can make it back, like how I'm doing.

[ryzaadit]

-snip-

-snip-

Sh*t, what a d*ckhead move by me.

Forgot to change the number from 1 to 27 at the time check on Google for Rate XMR. My bad! the mistake on me. Hopefully @OP got his money back, and maybe if he's using a third-party website for freelance like Fiverr and other these could help him for at least proof his fund are being earn by freelance.

GL @OP. Don't lose hope.

[mabji1]

KuCoin has faced numerous allegations and incidents related to scams, including a recent report of $9.5 million stolen through its deposit addresses so now they want to get this from their users.

[welovebit]

Centralized exchanges always make things chaotic in the name of AML and KYC, but their target is always to have funds and then stop replying to the relative person or block his access to the exchange.
No doubt it's a small amount for a few, but mostly people from third-world countries spend a long time having this amount and, after losing, face terrible situations and have no path to fight back after having losses like this, but please keep fighting and never give up because if you have all relative proofs, then you can bring them on level and have your funds back.

Now I am avoiding these exchanges at all costs because they have too many clauses to stop money and create problems. Few like
you are still doing business and having problems like this.

[logfiles]

Not trying to be skeptical.

27 XMR = around 400 USD. Pretty rare to exchange ask for some proof-of-fund with this amount cause is pretty low. Perhaps you could try to export every deposit you've made with Kucoin. Share in here, and other maybe can somehow track too for helping.

I guess these could somehow trigger some warning for the transaction from activity prohibited against their term & condition. Anyway, where did you do the freelance? In some freelancing website? If yes would be very nice to contact them for maybe a bit of help to verified all the payment you're receive are legitimate from the freelance. Hopefully they can accept those as proofs for the payment you're receive.

27 XMR is currently valued at 10,668.41 USD

CEXs often trigger automated AML reviews. The first step is never using a CEX to exchange crypto.

Most especially XMR that has been demonized by most of them. I would personally never even risk depositing any of my XMR on any centralized exchange that may ask for KYC verification. if it's XMR for cash/fiat, no KYC p2p exchanges are my only option.

If yes would be very nice to contact them for maybe a bit of help to verified all the payment you're receive are legitimate from the freelance. Hopefully they can accept those as proofs for the payment you're receive.

They are refusing to take freelancing as a source of funds according to OP's post.

[DPHOR]

I have rarely used kucoin because of their level of manipulation In that exchange, where I could had ended up using them was when Binance restricted people from having access to their P2P market, then we where faced to either such for another alternatives by using kucoin. But then, they imposed another laws against our country users. After when I red it I became more weak to keep using.

Down to your case, I wouldn't see it as something new anymore as I have seen their unprofessionalism. But I would want to know if you had already passed your kyc before you started using them because most of the centralized exchange nowadays do not really like approving some verification when there are funds on the exchange. In fact they may see it as an usual activity or someone trying to bruteforce themselves into the exchange that could lead them to wanting to give you difficult time to have access and if you where providing all their requirements it shows that you are only but hacker.

[Coyster]

KuCoin has faced numerous allegations and incidents related to scams, including a recent report of $9.5 million stolen through its deposit addresses so now they want to get this from their users.

The $9.5 million wasn't actually stolen from Kucoin, it was stolen through a fake Ledger Live app that was unfortunately listed in Apple's App store. Though the funds were laundered through 150 Kucoin deposit addresses linked to a mixing tool called AudiA6, which makes them culpable.

Now I am avoiding these exchanges at all costs because they have too many clauses to stop money and create problems. Few like
you are still doing business and having problems like this.

That's a good decision, because even if it is Kucoin in this particular case, it could as well be any centralized exchange. They are all notorious for the same reason, which is to block withdrawals and request for further verifications, some of which may even be impossible to provide.

P.S. Stay alive OP, help is coming. Maybe not now, but sometime in the future!

[GxSTxV]

My name is moetaz meddeb, hope that my post helps someone to avoid Kucoin as I will be taking my own life after making this post,
I live in algeria and dont even have a bank account. All of my money was made through freelancing and they wont take it as an source of funds.

AVOID THEM AT ALL COSTS

Hi, I am truly and very sorry to hear this story. But hold on my friend, I am also from Algeria and I hope you can read my message so we can get in touch. I will do my best to help you out because I have been in this situation so many times before. We are gaining our living from this space and it’s the only place so I truly understand what you’re going through now.

Please if you read my message DM your contact. I will also search for your name and try to get in touch with you on Facebook or Instagram. I totally understand the frustration but I promise everything will get better. I have been in your situation, fought depression after so much losses, addiction and so much debts, I was under zero and still btw haha but I am still here and doing my best, please fight that bad feeling.