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An Open Letter to Johnny Lyu and Kucoin

Dear Johnny,

I’m writing to you because this is my last resort. I am a Kucoin customer who has had his BCHA/XEC coins locked on your exchange for six months. Here are some of the emails I’ve gotten each time I’ve asked about withdrawals:

As you can see, all I’ve gotten is the runaround with no real explanations or expected timelines for when this issue will be resolved. I have also tried to reach out through Reddit, Twitter and Telegram, but you and your exchange continue to simply ignore me and everyone else who has their eCash stuck on Kucoin.

I would say I’ve been more than patient at this point. You are basically stealing user’s funds and if you had no intent to allow users to withdraw their coins, you should not have listed it in the first place, let alone announce you are going to support the BCHA => XEC rebrand causing people like me to buy even more BCHA on Kucoin. This post was three months ago:

I’m asking you to do the right thing. Fortunately, I’m in the privileged position that I don’t have to rely on the approximately $50,000 of my money your exchange is holding hostage, but I know users who badly need their money now, and your exchange is preventing access to that money.

According to scorecard.cash, your exchange is at the bottom of the list. If you want to be known as the “people’s exchange”, shouldn’t you work hard to serve your customers?

I hope to hear some kind of substantive response from you or your exchange within the next few days. The best way to reach me is on Twitter @CainBCHA.

If I don’t hear from you by Novembe 23rd, I will consider your silence to be no better than what Coinbene recently did to their customers and do everything in my power to make sure as many people in crypto know about your scammy practices and help prevent others from getting screwed over. Do the right thing. Six months of beating around the bush is long enough.

Sincerely,

A concerned Kucoin customer.