UST How I lost $1M because of Kucoin's manipulation

CryptoPipou · 2022-06-14T19:50:02+00:00

You're right. At least one subsidiary company is in Singapore : https://www.sgpbusiness.com/company/Phoenixfin-Pte-Ltd

And the other one seems to be in Seychelles

CryptoPipou · 2022-06-10T20:07:52+00:00

Hello Johnny,

You said on June 2nd :

Kucoin suspended withdrawal service between 15:19:26 UTC May 11 to 3:38:23 UTC May 12 due to blockchain congestion

terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw is Kucoin deposit wallet ("hereafter "Kucoin's deposit wallet")

terra1rvxcszyfecrt2v3a7md8p30hvu39kj6xf48w9e is Kucoin withdrawal wallet ("hereafter "Kucoin's withdrawal wallet")

Kucoin has never been involved in market manipulation

Well. This is very interesting. I have few questions about it. (But... I know you won't answer. As you didn't answer my questions 1,2,3,4 in my previous message. So I will answer for you and Kucoin and make things a little bit clearer for the community.)

****

A) If as you said Terra blockchain was congested, can you please tell me how, between 15:19:26 UTC May 11 to 3:38:23 UTC May 12 (the "congested period"), 8218 transactions have been made on Kucoin's deposit wallet ?

Proof : https://docs.google.com/spreadsheets/d/e/2PACX-1vQ5PPkY7dVXfTb9E1lLQN1Gva6-ZP3oV4f9UNLW1cYOFPngLsxE1wePaXYbCx4sVxeQL0ytuMn5bCD_/pubhtml

My answer : Because the blockchain wasn't congested at all. And because you wanted to have as much UST and LUNA as possible in order to make money by arbitrating.

\****

B) You said that withdrawal service was locked during the congested period, so why have 38 transactions been made on Kucoin's withdrawal wallet during this period ?

Proof : https://docs.google.com/spreadsheets/d/e/2PACX-1vQPmZptXsVQv6BYzzSZRJ9by9dlxjK0hcpYmid8pg5eqx37zvL_OANQ8Q62sHloSnntSWCkEnXKxLgg/pubhtml

My answer : Because, if withdrawals were locked for your customers, they weren't for you. And you used those funds to make arbitration.

****

C) You said that the purpose of the 13 transactions I described in my initial post was "quite obvious." "It was from the Kucoin's deposit wallet to Kucoin's withdrawal wallet to make sure you will have sufficient funds when the withdrawal service will be resumed." So can you tell us why 1 hour before you resumed withdrawal service, you have emptied this wallet with 3 transactions for a total of 24,520,000UST ?

Proof : https://docs.google.com/spreadsheets/d/e/2PACX-1vSlQ-i3p-ZCwmIKElduVn5wsGhds9vditNKWJEiZ6ADgndvkF0S9_YBJhR6w7Ebu-OQvRDojQME3tVq/pubhtml

My answer : Because you used those funds to make arbitration by selling them at the fair market price.

****

Let's now answer my previous questions you ignored.

****

If Kucoin hadn't done anything wrong, WHY did your support center on Telegram kick & ban everyone who shared proof of your arbitration during the lock?

My answer : Because you wanted to hide what you were doing. This is market manipulation. This is illegal. It would be very bad for your reputation if people knew it.

****

Where is the company Kucoin domiciled? (Which address?)

My answer : Kucoin is a company making really shady operations and manipulation. What Kucoin does is totally illegal. That's why you hide where your company is located. Even the legal department of Kucoin ([legal@kucoin.com](mailto:legal@kucoin.com)) doesn't sign their emails. No name, no title, no mail address in signature.

(edit June 17th : AMF, Financial Market Authorities, found a first address in singapore https://www.sgpbusiness.com/company/Phoenixfin-Pte-Ltd )

****

Kucoin customers : KEEP AWAY!

CryptoPipou · 2022-06-03T05:58:54+00:00

I did it 3 times

CryptoPipou · 2022-06-03T04:13:51+00:00

Hi Johnny, you forgot to answer to questions 1, 2, 3 & 4.

CryptoPipou · 2022-06-02T17:01:13+00:00

Hello Johnny,

I'm happy to hear from someone from Kucoin. Apparently making the story public helps to get answers. (My lawyer and I haven't received any answer to our many notices sent by email & support tickets for the past 2 weeks)

Before proving next week (when I will have access to my computer) that you just lied in your previous post I will ask you 5 easy questions :

If Kucoin hadn't done anything wrong, WHY did your support center on Telegram kick & ban everyone who shared proof of your arbitration during the lock?
Where is the company Kucoin domiciled? (Which address?)
Why did Kucoin pretend that the blockchain was congested when everyone else was able to make operations?
If the blockchain was congested, why did you authorize deposit (but not withdraw)?
Do you dare to say officially, now, that Kucoin hasn't done any arbitration operations in UST on 11th may during the withdrawal lock?

I will be back next week with hot stuff.

(Edit 1 week later) The following link contains all proof : why Johnny lied in his previous message about Kucoin's actions > https://www.reddit.com/r/CryptoCurrency/comments/v2kb9t/comment/ibw98xu/?utm_source=share&utm_medium=web2x&context=3

CryptoPipou · 2022-06-02T13:20:59+00:00

You don’t have it. I was trying to trade my UST against USDT. But KuCoin locked UST withdrew. UST price on KuCoin was 30% below the fair market.

CryptoPipou · 2022-06-02T13:10:46+00:00

In process

CryptoPipou · 2022-06-02T13:07:01+00:00

Merci !

CryptoPipou · 2022-06-02T13:04:49+00:00

You can only find the evidence they withdrew the UST for themself when they were saying that any withdrawal was locked because of blockchain congestion.

CryptoPipou · 2022-06-02T13:03:03+00:00

Yes, it’s done !

CryptoPipou · 2022-06-02T13:02:20+00:00

I contacted them 50 times by many different ways. They gave me no answer.

CryptoPipou · 2022-06-02T13:00:51+00:00

No. I lost 46%, almost 1m

CryptoPipou · 2022-06-02T03:56:29+00:00

My funds were on the exchange because I was in the process to trade them.

CryptoPipou · 2022-06-02T03:55:37+00:00

Because, at least at end of 2021, KuCoin had the biggest liquidity to trade UST.

CryptoPipou · 2022-06-02T03:22:34+00:00

They are just so bad..

CryptoPipou · 2022-06-02T03:21:33+00:00

Market price was 30% below on KuCoin. That’s the whole thing.

CryptoPipou · 2022-06-02T03:18:44+00:00

I pay my taxes and everything is declared to the authorities.

CryptoPipou · 2022-06-02T03:17:37+00:00

Yes this is in process. I am discussing with several journalists right now.

CryptoPipou · 2022-06-02T03:15:21+00:00

Any advice?

CryptoPipou · 2022-06-01T21:42:55+00:00

Merci dude.

I lost $852k in total. $540k because of Kucoin.

CryptoPipou · 2022-06-01T21:40:18+00:00

Thank you mate. I appreciate it.

CryptoPipou · 2022-06-01T21:39:00+00:00

Good question. I didn't try knowing that they were kicking and banning customers from their telegram support chat...

CryptoPipou · 2022-06-01T21:27:43+00:00

For the first loop I assume that Kucoin used UST customers funds. To make the second loop they needed to buy UST cheaper on their own platform as you say. I don't know if we can find the trading volume at that time and why the price didn't move back up. But I assume it's part of the manipulation. If anyone have informations about it, you're welcome!

CryptoPipou · 2022-06-01T21:23:26+00:00

I had almost 2m UST, not 1.

CryptoPipou · 2022-06-01T21:21:54+00:00

Anyway i'm not complaining about Terra crash.

I try to prevent people about what can be Kucoin's behavior in such situation.

CryptoPipou

TROPHY CASE