Four cryptocurrency projects from among those whose illiquid tokens were removed from the KuCoin exchange at the end of 2018 stated that the site required them to pay $ 180,000 for “services to increase trading volume”. About this writes The Block .
As the representatives of the Jibrel, EncrypGen, Publica and Unikrn projects told, their tokens were among the least in-demand assets on the stock exchange, after which they received a letter from the KuCoin employee proposing to use the service of market makers affiliated with the platform.
“KuCoin offered to help achieve a minimum level of trading and save space on the platform for $ 180,000 per year. As they guaranteed volumes, I am sure that it was a question of laundering trade, ”said Jibrel Chief Operating Officer Talal Tabbaa.
The EncrypGen team received an offer of an “advanced marketing package” for $ 90,000 in bitcoins. Pay the project refused.
In response to the allegations, KuCoin representatives suggested that fraudsters could get in touch with the projects using fake email addresses. However, in one of the authors of the letters they recognized the current employee.
“If messages really came from KuCoin employees, we will definitely take measures to eliminate behavior that violates our company’s policies, ” the exchange said.
We add, three more projects reported that they faced a similar situation on
Hong Kong Exchange OKEx. The site asked them to pay certain “trade commissions” , which could mean all the same money for falsifying trading volumes.
Last November, CEO of Unikrn Raul Soud, the court released information that OKEx "directly asked for an increase in volumes by any means" under the threat of delisting.
Recall that from the beginning of February KuCoin stopped supporting Arcblock (ABT), SingularityNET (AGI), Aeron (ARN), DATA (DTA), IHT Real Estate Protocol (IHT), Polymath (POLY), Quantstamp (QSP) and Substratum (SUB) tokens. ).
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