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6 months ago KuCoin admitted fault for my $300K liquidation. Here's what happened since.
I took a Google Meet with their Head of Futures. I went to an in person meeting at Tribes in Dubai Mall with their Global Business Director. I sent 10+ proposals. I gave them every possible way to make this right.
On the call they took full responsibility. They admitted the liquidation was caused by broken infrastructure. Their platform failed and they said so themselves.
But here's the part that's hard to believe. Their Head of Futures couldn't understand basic futures mechanics. I had to explain how margin, liquidation and order book depth works to the person running the futures division at a top 10 exchange.
The person responsible for resolving my case didn't understand the product that caused it.
Their first offer: bring us $2.5 billion in trading volume and you can "earn it back." I did the math for them live in the chat. $10,000 per 100M volume. That's 0.01% return. To recover $250K I would need to generate the monthly volume of a top 50 institutional desk. For free.
I said no.
Their second offer was worse. $20K upfront, but only if I hit 1,000 active users and $300M in volume first. Then a $30K "cashback" that requires KuCoin's manual approval.
I said no again.
Their third offer was even worse than the second. $10K/month. Halved the numbers from the deal they already couldn't close. After an in person meeting. After a Google Meet. After weeks of negotiations.
Every single offer came with the same condition: delete the tweets, stop talking, and come work for us as a KOL. Promote the exchange that wrongfully liquidated me. Bring them users. Make them money. Then maybe they'd consider giving back what they took.
I told them in the chat: "It's like someone steal from me $250K and then tells me come work for me and you'll make it back (maybe)."
Their response? "Let me think about it."
Then silence. Weeks of silence. I had to chase them for every single reply. Christmas came and went and I gave them a final deadline January 6th. They came back with yet another lowball.
KuCoin had their Head of Futures, their Global Business Director, and multiple senior reps in this group chat. They all saw every message. They all went quiet when it mattered.
Today I'm releasing the full 30 minute Google Meet recording and the complete Telegram history. Every message. Every offer. Every time they went silent. You'll hear them admit fault and then watch them do nothing about it.
They had 6 months to make this right. They chose silence.
Video drops today.
@alphafox Shoutout to the sheriff for enforcing it. Everyone drives in the passing lane where I’m from because no one tells them not to (except for the obvious road sign saying “Keep Right Except to Pass” but you can’t expect these people to know how to read)