KuCoin Disables Bitcoin Private Withdrawals

KuCoin exchange temporarily disabled Bitcoin Private withdrawals due to some technical issues with BTCP wallets
11 April 2018   743

Half an hour ago KuCoin cryptocurrency exchange has issued the Bitcoin Private Withdrawals Report stating that the exchange faced some technical issues with Bitcoin Private wallets after reopening the withdrawal system today. Given these unforeseen problems, KuCoin informed the users that they won’t be able to withdraw their funds at this time.

KuCoin BTCP Withdrawals UpdateKuCoin BTCP Withdrawals Update

The technicians at KuCoin are now looking at the wallet problems, and should resolve the issue as soon as possible. The exchange reported that it should make sure that the wallet system is working correctly before allowing users to complete the transactions.

KuCoin crypto exchange apologized for inconveniences caused, and promised to release a new update as soon as it can guarantee that all users can withdraw their funds without encountering technical issues.

Kucoin to sent Unefficient Tokens for a Timeout

Kucoin exchange has devised a new method of dealing with underperforming tokens: inspite of being delisted, the tokens will be sent to a “special treatment area”
04 May 2018   304

Once placed on the token equivalent of the naughty step, they will be given an  opportunity to buck up or risk being permanently removed. Cryptocurrency that display a low trading volume can expect placement in a special treatment (ST) area by Kucoin.

As well as tokens whose team run into legal difficulties or go AWOL. It’s the first step towards delisting, though assets will get a chance to earn a reprieve. Coins that are moved to the ST zone will have a special mark giving the traders notice that there’s a risk of removal.

Kucoin’s new policy has been supported by many traders, as it adds transparency and provides warning of assets that can be purged. A number of exchanges delist coins at short notice and with little or no explanation. 

Kucoin named 8 reasons why a token may be moved to ST area. Among them:
1. Negative Trading Volume for some period of time.
2. Stop of business activities for 3 months.
3. In liquidation, insolvent, bankrupt or otherwise subject or in a position to become subject to bankruptcy proceedings.
4. Negative views by the company auditor.
5. Inability to submit the updates reports in accordance with the requirements of the Exchange in terms of project development, status of the team and status of listing entity for a consecutive certain period of time.
6. The team of the project is seemed to be fired.
7. Any act supposed as malicious operation to the market.
8. Any other situation as determinate by the Exchange from time to time.

During the resent few months Kucoin is being adding tokens faster than any other major exchange. It is probably caused by the platform’s willingness to accept virtually any token that it now finds itself having to remove the worst performers.