What’s going on KuCoin or why Day Time Trader losing money in the end.

Hello everyone, guys.

I want to start with this:”I really like this exhange”.And now I gonna told u why it’s became worse.

I am a daytrader with pretty small dep (near 1000$). I’m playing pretty safe on little distances but always put all in (half or more of dep). I’m trading a lot and already payed KuCoin in fees like 750$. I’m here for half a year.

But let me tell you this:

1. I was all in when PRL start dumping because ex-CEO made some profit on KuCoin traders-investors. It’s droped from 2800 to 1200 really quick. Because I start to understand that price movement really weird I lost just near 150-200$ (that was near 15% of my deposit). KuCoin allow s1 dumping price from wallet with a lot of PRL on it, didn’t block his account to protect customers and stoped PRL/BTC trading too late. That were 100% price manipulation which were confirmed. I didn’t get any of lost money back and KuCoin didn’t roll back trades when they should.
2. I was all in on VNX dump from 240 to 120. It was really fast and I lost there some money too (near same 200$). Price of token just droped from 400 to 80 in one week. Isn’t it a price manipulation? I understand that this token was overcost at price 300-400, but still this is weird and customers lost their money again.
3. Last and most biggest dump for me. I lost here 80% of my deposit (800$). CEO of APH makes a pretty quiet announcement in telegram (only in telegram) , that they stop produce some features, but still have their wallet and etc. After 20 minutes from that announcement, s1 sold so much APH that price droped from 600 to 40 in 90 seconds. I get in near 580, here was a big buy wall at 550. It was eated by s1 in 1 click and after that there NO BUY WALLS at all until to price of 100. That’s how I lost those 800$ (I get out at price 120 or something).

All those 3 dumps were not normal at all, especially first and third. PRL price dump by ex-ceo and APH dump 90% price in 90 seconds by the guy who sold near 15mil of APH in 4 hours (which is near 30% of current circulating supply).

So, in the end I lost like 1200$ because of those dumps. I know it’s crypto, it’s happening. But KuCoin got this KYC and etc. They saying in section about kucoin team such words like “High Liquidity”, “Support, Always Here to Help”, “Asset Security”. But in the end it’s just empty marketing.

I was asking KuCoin team just to return my fees(it’s near 750$) because of those dumps and malicious actions what they were not able to prevent, but they give me nothing. How can I trade here with knowing that there someone who can easily through their own exchange make money on customers and kucoin do NOTHING to prevent this (because they didn’t stop them, block their withdraws to make trades roll back and return money to their owners)?

I’m twice made request to kucoin, and all what I got like:”Crypto is risky, read Risk Disclosure Statement”.Nice support guys. What about:”We wont let malicious activity on our exhange?” or “Funds are safe, so we can roll back trades with weird/not normal even for crypto malicious activity.

In the end all what exchange doing, just taking your fees through deposit/withdraw and trades. They are pretty safe on their wallets I guess, but market prices on those altcoins not safe at all. And if u lose because s1 just dumped coin price what u got in assets, no one will care at all.

This post just for educational goals and a deeper understanding of what is happening at all on exhanges. I know that Binance insure their customers from things like that (SC pump, they roll backed trades – just gave money back).

Thanks if u read it all. Have a nice day. Think twice if u want to hold or trade crypto.

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