Singapore-based KuCoin crypto exchange has announced that they will delist some of the projects under probation on their platform. Based on an official announcement published to their users, the company stated that the latest phase of the ST observation came to an end subject to their Special Treatment Rule. KuCoin is ranked among the most advanced crypto-trading platforms that serve around five million registered customers every day.
The affected projects were disqualified and their affiliate tokens will be removed from KuCoin’s exchange. The threatened projects include:
- Gladius Token (GLA),
- EncrypGen (DNA),
- BlockMason Credit Protocol (BCPT),
- Publica (PBL),
- Monetha (MTH),
- Raiden Network Token (RDN).
The Delisting Process
The entire procedure will be done strategically. First, all deposits and pending orders associated with the projects will be shut off permanently at 22:00 (UTC+8) November 22, 2018. The company advises the users to cancel all pending orders of relative projects with immediate effect. The cancellation will enable for a smooth delisting process and the users can manage their funds without any losses from the delisting process.
After that, all relative trading pairs will be closed permanently at 14:00 (UTC+8) on November 23, 2018. Please note that all withdrawals of relative tokens from KuCoin will be active until the set 18:00 (UTC+8) on November 23, 2019 deadline. All users currently holding relative tokens are advised to make their withdrawals on or before the above closing date.
The announcement came after an extensive analysis of the new tokens and projects that were listed on the platform recently. The KuCoin team stated that the move is meant to protect their users from losses that may arise from projects that do not satisfy and uphold the crypto exchange platform’s terms of service.
Participating in and investing in the cryptocurrency market is similar to being an active venture capital investor. The crypto market is open for trading worldwide on a 24/7 basis with no closing or opening times. Users, traders, and investors are advised to do their risk assessment after extensive and informed market analysis.
KuCoin always strives relentlessly to ensure that all listed tokens are screened extensively before they come to the market. Nevertheless, risks still exist whenever you are investing in the blockchain and cryptocurrency markets. KuCoin is never accountable for any investment gains or losses.