Claim $500KuCoin Delists 10 Altcoins, Urges Users to Withdraw Funds by May 2024
In a significant move to enhance compliance, KuCoin, a prominent cryptocurrency exchange, has announced the delisting of ten altcoin projects. This decision, effective as of today, reflects KuCoin’s commitment to its Special Treatment Rules, ensuring all listed projects align with their standards.
The list of delisted tokens includes Kambria (KAT), Sakura (SKU), Don-key (KDON), LOCGame (LOCG), Sienna (WSIENNA), Inflation Hedging Coin (IHC), Position Exchange (POSI), TE-FOOD (TONE), Pika Protocol (PIKA), and Karura (KAR). Consequently, related trading pairs like KAT/USDT, SKU/USDT, and others will no longer be available on the platform.
Timeline for Withdrawals and Trade Closures
KuCoin has outlined a phased approach for this delisting process. Initially, trading bots will halt operations from 09:45 Turkish time on November 24, 2023. The affected trading pairs will be officially removed at 10:00 Turkish time on the same day. Users are advised to cancel any pending orders related to these tokens to manage their funds efficiently.
Additionally, the withdrawal services for these altcoins will cease at 13:00 Turkish time on May 28, 2024. KuCoin underscores the importance of users initiating their withdrawal process before this deadline to avoid any potential loss of funds.
KuCoin’s Emphasis on User Cooperation
KuCoin has stressed the need for cooperation from its users during this transition. Moreover, users can avoid unnecessary losses by promptly adhering to these changes and withdrawing their funds. KuCoin’s action reflects a rising trend in cryptocurrency, where exchanges concentrate more on regulatory compliance and user protection.
Concurrently, Binance is making similar adjustments to delist specific margin trading pairs, including BTC/BUSD and ETH/BUSD. This move, scheduled for December 7, 2023, is likely a response to the recent scrutiny surrounding money laundering issues in the crypto sphere. Binance’s decision highlights the evolving regulatory landscape in the cryptocurrency market and the need for exchanges to adapt swiftly.
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