16 tokens delisting from the stock exchange KuCoin at the end of 2018 may have reasons different from those that had been indicated by the company itself, writes The Block.
According to the portal, at least four projects from this number, had received a demand to pay $180 000 for the rise in trading volume from the KuCoin that would allow them to keep their place on the trading platform.
The sources of the projects Jibrel, Encrpgen, Publica and Unikrn said that after their tokens were among the 18% of the least popular asset on the exchange, the company offered them to raise the volume “by any means necessary”.
Operating officer Jibrel reported that KuCoin recommended associated marketmaker, ready to carry out the necessary operations.
“They had to do the laundering trade, I’m 100% sure. They provide guaranteed volumes, so obviously, something is not clean,” he said.
Representatives of other projects told similar stories and said that they refused offers of exchange, opting for “natural demand.”
KuCoin for its part said that she was “pretty sure” that never offered services for market-making, and suggested that these projects could contact the scammers, using fake email addresses.
“If the message really came from employees KuCoin, we will definitely take action to eliminate the behavior that violate the policies of our company,” said exchange.
Commentators argue that the problem may not be limited to only one KuCoin. Three projects said that the Hong Kong stock exchange OKEx offered similar services but were “more discreet” and asked to pay a “trade Commission”, which could mean the same money to the falsification of trading volumes.
The representative Jibrel believes that crypto-exchanges changed policy and now require not so much with projects money for listing tokens, how much blackmailing their possible delisting.
“This is probably one of the most polluted areas, which I had to face today”, he added.
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.
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