I'm currently experiencing a frustrating issue with KuCoin and their affiliate, Banxa.
Two weeks ago, I made a deposit through Banxa, but due to an error on their side, the amount was credited twice to my KuCoin account.
My bank was only debited the amount I had authorized.
Soon after, my KuCoin account was frozen without explanation.
I had to initiate contact to inquire why they had frozen my account, as I received no explanation from them.
Dealing with KuCoin's support team has been as frustrating and pointless as using samsungs voice to text feature.
After going through at least 10+ support members who simply said to wait while they transferred me through to someone who could help...
I finally got to their leader, and as a reward for my persistance and patience, I received a computer-generated response stating the matter had been escalated with the highest priority, and I would be contacted via email shortly.
Thirteen days later, I've received no emails despite their daily promises of even more experts working diligently specifically to fix the error im experiencing...
Im afraid if 100s of them working around the clock cant fix such a simple error in 2 weeks... then its unlikely they will ever advance enough to be able to perform simple tasks and my money is lost...
The error is entirely on their side, and I couldn't find any clauses in the terms and conditions requiring me to repay the extra funds they mistakenly credited to my account.
I have offered to pay back the amount that was over-credited, but KuCoin claimed that I had been in conversation with Banxa, and agreed to have the full amount deducted from my account (which would leave me at a loss as ive clearly paid for the initial credited amount)
I have shown proof of the funds debited from my bank account and agreed they can deduct the excess amount that they gifted me, but they seem dumbfounded by the complexity of their error and cant figure out a solution
I've lost a significant amount of money due to their inability to lift the suspension on my account.
I feel deserving of generous compensation for the time and effort I've put into resolving this issue.
Should I involve legal means to recoup my money? It's unbelievable that I'm still enduring this for a problem entirely their fault.
STAY FAR AWAY FROM KUKOIN AND ITS INCOMPETENT OPERATORS
Deposit Crypto via Banxa
A couple of weeks ago, I deposited some crypto, did an exchange for another crypto, and I was able to withdraw cryptos with no problem.
Last week, I made two other crypto deposits and was able to trade for different cryptocurrencies. But now, I am unable to withdraw my cryptos. Either node upgrade or wallet maintenance excuses show on my page.
Automated responses only, without any explanation or solution.
Today I finally received a response just saying to be patient, unable to withdraw because of node upgrade. So after 11 days, I am still unable to withdraw my two cryptocurrencies...
Update 1: Today, Thursday, April 14th, I received another reply. Unable to withdraw both cryptos as they are in maintenance. They will let me know... So, after two weeks, unable to withdraw or do anything with my funds.
Update 2: Today, Friday, April 15th, I received another message from Kucoin asking if my issue had been resolved. So, apparently, I am having two separate conversations with them...
Update 3: Several times I have received e-mails from Kucoin asking if issue has been solved, as they have not received e-mails from me in the past 24 hours. Their customer service su... s! Just giving me the runaround.
Update 4: Another e-mail stating that, if it is urgent to withdraw, to exchange for other cryptos. But that was not the point. I specifically deposited to exchange for specific cryptos that I wanted. What if I exchange for other cryptos, and, THEN, I am also unable to withdraw? Plus all the exchange fees lost... Tried to use A*r*a*m*e*z G*l*o*b*a*l (a recovery company), but it seems to be a fraud. I wrote a separate review about them here at Sitejabber.
Update 5: Yesterday and today I decided to try and risk what they had suggested. I exchanged my cryptos for other cryptos that had the withdrawal option available. So, yes, I have been able to withdraw everything from Kucoin, but at a very high cost. Hundreds of dollars lost in trading and exchange fees, plus I DO NOT HAVE Bsv, or Dero, which was the purpose of depositing funds in Kucoin...
Hello again (Saturday, Feb. 1st, 2025),
I decided to give Kucoin another try, because I wanted to buy HYPE, and it seemed the easiet way to get it, since I already had an account.
Did my KYC seamlessly, and transfered some ETH from another wallet. Used the convert feature to exchange directly ETH to HYPE. Worked great!
So, I will give them 4 stars for now. If when I decide to withdraw my HYPE I am unable to, I will go back to 1 star.