Today, the blockchain focused venture fund Krypital Group, has officially denied information about its connection with the upcoming launch of the South Korean crypto exchange KBcoin. The corresponding announcement appeared in its blog.
Krypital Group says that KBcoin did contact them regarding possible cooperation, but these negotiations did not bring any results. As reasons for not cooperating, the foundation indicates that the project did not provide it with a demo version of its product and information about team members, and the Krypital Group itself “did not manage to confirm the authenticity of the KBcoin product”. Also, the Krypital Group cannot confirm whether KBcoin uses a fully-fledged KYC procedure that meets the relevant requirements in its current ICO process.
We are known in the industry for the high quality of our cooperative projects. In light of the above circumstances, we regret that we are unable to reach any cooperation with KBcoin under the Kbit Group. As to the fact that KBcoindisplayed Krypital Grouop, Cybermiles, Arcblock, Merculet, Egretia as its partners on its website and/or in other channels for any commercial purpose without authorization, we reserve the right to enforce any and/or all legal remedied available to us.
ICO, during which KBcoin intends to raise $ 8 million, ends on November 15. The main competitive advantages of the trading platform include the possibility of receiving dividends from KBcoin tokens stored on users' accounts, targeting the listing of popular coins without collecting high commissions and strong partners support, the list of which with today's announcement of the Krypital Group is seriously depleted.