Reddit User Calls Out KuCoin Over ≈$50,000 Stuck On Exchange

The heat has been on crypto exchange KuCoin recently after a Reddit user called them out on Reddit regarding funds being held on the exchange. The user had first taken to Reddit to vent their frustrations in an open letter to CEO Johnny Lyu after making no progress with its customer support representatives. According to the user’s statements, the exchange was withholding ≈$50K worth of crypto on the exchange. The user explained that KuCoin had announced that they would be supporting a new BCH fork, eCash (XEC), leading them and many others to invest in the asset on the exchange. Problems arose when the exchange had run out of liquidity for the cryptocurrency. KuCoin users realize that they could not sell their holdings without doing so at a significant loss (selling for cents to the dollar). Related Reading | Kraken Is Delisting Top Privacy Coin Monero (XMR) For UK Users However, a much sinister issue arose when they found out they could not transfer the coins out either. Since then, the user claimed that they have had ≈$50,000 worth of crypto being withheld by the exchange for over six months and still have not been allowed to move their coins. Open Letter To KuCoin CEO The Reddit user who goes by the username u/BCHcain had first drawn attention to the issue when they posted an open letter to CEO Johnny Lyu about four days ago. In the open letter, they include screenshots of their communications with the support staff da...