Cryptocurrency Q&A
Why did kucoin shut down a customer?
Why did kucoin shut down a customer?
Lorenzo
Mon Jul 15 2024
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6 answers
1614
Could you elaborate on the reasons behind Kucoin's decision to shut down a customer's account? Was it due to suspected fraudulent activities, violations of their terms and conditions, or some other form of misconduct? Did the customer receive any prior warning or notification of this action? Furthermore, what are the specific steps that Kucoin typically takes to investigate and validate such allegations before taking such a drastic measure? Lastly, is there a process for the customer to appeal this decision or regain access to their funds if they believe it was an error? Understanding these details would help provide clarity on Kucoin's policies and procedures in such situations.
6 answers
KiteFlyer
Wed Jul 17 2024
KuCoin responded to a customer inquiry with a notice highlighting that the user originated from the United States, a jurisdiction prohibited for their services.
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Giuseppe
Wed Jul 17 2024
The exchange informed the customer that they were required to provide identification from a non-prohibited country in order to continue using KuCoin's platform.
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TaekwondoMasterStrengthHonor
Wed Jul 17 2024
Despite this, the customer attempted to challenge the decision by presenting screenshots of KuCoin's social media posts advertising the lack of Know Your Customer (KYC) requirements in the United States.
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Michele
Tue Jul 16 2024
KuCoin, however, remained firm on their position and did not alter their original decision.
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FireflySoul
Tue Jul 16 2024
They emphasized that while some posts may have suggested a lack of KYC, their official policies and terms of service still prohibited users from prohibited jurisdictions.
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