Four of cryptocurrency project from among those whose illiquid tokens were removed from the stock exchange KuCoin at the end of 2018, said that the area they demanded $180 000 for “services to increase in trading volume”. About it writes The Block.
As representatives of the projects Jibrel, EncrypGen, Publica and Unikrn, their tokens were among the least popular asset on the exchange, after which they received a letter from the employee KuCoin with the service affiliated with the site and market makers.
“KuCoin suggested to help achieve a minimum level of bidding and keep the place on the platform for $180 000 a year. As they had guaranteed volumes, I’m sure it was the washout trade”, — said chief operating officer Jibrel Talal, Tabbaa.
The team EncrypGen did offer “advanced marketing package” for $90, 000 in bitcoins. To pay the project was abandoned.
In response to accusations KuCoin representatives suggested that projects could get scammers using fake email addresses. However, one of the authors of the letters they recognize incumbent employee.
“If the message really came from employees KuCoin, we will definitely take action to eliminate the behavior that violated the policy of our company”, — said exchange.
Add three more projects reported that they had faced a similar situation in
the Hong Kong stock exchange OKEx. The site asked them to pay some “trade Commission”, which could mean the same money to the falsification of trading volumes.
In November last year the CEO Unikrn Raul Court released information that OKEx “directly asked to increase the volume in any way” under threat of delisting.
Recall from the beginning of February KuCoin stopped supporting tokens Arcblock (ABT), SingularityNET (AGI), Aeron (ARN), DATA (DTA), IHT Real Estate Protocol (IHT), Polymath (POLY), Quantstamp (QSP) and Substratum (SUB).