The Crypto Space Rumors, who is behind them? and why? WHY is KUCOIN being targeted, what is the hidden agenda?
On September 26, 2020, users of the popular cryptocurrency exchange KuCoin began to report that they were unable to withdraw their funds. These reports coincided with rumors that the exchange was insolvent and about to halt all withdrawals.
However, KuCoin CEO Johnny Lyu quickly took to Twitter to dispel these rumors, stating categorically that there was no truth to them and that the exchange had no plans to halt withdrawals.
So what exactly is going on here? Why are these rumors circulating and why is KuCoin being targeted?
Some have speculated that this is a coordinated attack by those who stand to gain from seeing the price of KuCoin shares (KCS) fall or those who wish to see the collapse of their competitors.
who is trying to create fear for kucoin users and why?
The rumours are that kucoin is going to halt withdrawals, this is due to the Terra (LUNA) and the 3AC collapse. There have been warnings that this will lead to "immense suffer" for the exchange.
However, KuCoin CEO Johnny Lyu has dismissed these rumours as false and stated that there is no plan to halt withdrawals. He also condemned the rumourmongers, calling them "saboteurs" who are trying to create fear among KuCoin users.
Lyu urged investors to remain calm and not to panic, saying that KuCoin is committed to providing a safe and secure platform for users to trade on. He also promised that any updates on the situation will be promptly communicated to users.
The KuCoin team is currently investigating the origins of the rumours and is taking measures to protect its users from any further sabotage attempts. In the meantime, Lyu has called on the community to remain vigilant and report any suspicious activity to KuCoin staff.
There seems to be foul play and a restructuring of power in the crypto space. Stay vigilant and report anything that seems off.
Original source: https://www.kucoin.com/news/en-kucoin-ceo-slams-insolvency-rumors-citing-no-plan-to-halt-withdrawal