Crypto exchange KuCoin users voice outcry over fund locks on Reddit

Several users of the cryptocurrency exchange KuCoin have taken to Reddit to voice their concerns over alleged difficulties in withdrawing funds from their accounts. Reports emerged within the KuCoin subreddit, with users claiming they had been unable to access their funds for extended periods. 

KuCoin users report extended account locks

One user lamented being locked out of their account for four months despite providing all requested information to the exchange. Another user reported an account block, citing KuCoin’s response linking their account to serious allegations without providing concrete evidence.

The Reddit posts prompted discussions and speculations within the community regarding the root causes of the reported issues. Some users speculated that the problem might be linked to Know Your Customer (KYC) procedures, while others urged caution and suggested users withdraw their assets to avoid potential complications.

KuCoin’s response and assurance

In response to the mounting concerns, KuCoin has reassured its users that it is actively addressing the reported issues. Eden Gao, KuCoin’s global public relations and branding associate, affirmed that the exchange is in communication with the affected users to resolve their concerns. 

Gao emphasized that KuCoin does not freeze user accounts or restrict asset disposal, reiterating the platform’s commitment to user security. Furthermore, Gao acknowledged that with a user base of over 31 million globally, occasional disruptions may occur but assured users of dedicated support channels across various platforms.