KuCoin
r/kucoin
I use my savings to invest in stocks and crypto. I choose Kucoin because it has a good reputation and never had any issues with them. Recently I discovered that the TOMO tokens I owned can be found no where in my account. It turns out they delisted it back in Nov and customers need to withdraw them by May 22 (I actually missed it by a week before I found out it was delisted).
I contacted support but they just replied with a generic email saying they can't do anything since it was posted on their announcement page and users have 6 months to withdraw it. Who has the time to go on their webpage everyday to check on what's being delisted? 99% of the announcement are not relevant to most customers.
They need to at least send an email to token owners that it's being delisted so people are well aware of it. I would have withdrew it immediately *if* I knew about it, the thing here is if I am not aware of it, it doesn't matter how much time you gave me. Just like owning a stock, if the stock is being delisted from stock exchange, my financial institution would email and notify me so I'm aware of it. Kucoin needs to communicate better especially this involves users potentially losing their assets/funds.
Also, what's funny is two days after the deadline of withdrawal, they listed TOMO for available to trade on futures.
https://www.kucoin.com/news/en-kucoin-futures-has-launched-usdt-margined-tomo-turbo-lever-contracts
I searched on Reddit, it seems like this has been happening for years and they haven't done anything at all. Without notifying their customers, so many people are losing their assets. And all these "unclaimed" money goes into their own wallet.
Needless to say, I'm very upset about losing all of tokens, this is my life saving money.
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