The High Court of Singapore has ruled that crypto exchange Kucoin.com cannot move any of its assets, including its website, away from Singapore. The ruling came late in March.
The news has thrown the exchange’s customers into a bit of a frenzy as many are worried that this might mean that something is seriously wrong with Kucoin. The court’s temporary injunction was delivered on March 24. A Cointelegraph report says that GoDaddy, Kucoin.com’s domain registrar, is following the court’s order.
The same report explains that somebody familiar with the exchange has revealed that Neo Global Capital, one of Kucoin’s investors, did not fund the exchange as previously announced. In 2018, Kucoin had announced that it got $20 million in a Series A funding from Neo Global Capital, Matrix Partners, and IDG Capital.
On the exchange’s official Telegram channel, it has now announced that there are options to kucoin.com including kucoin.io, and kubi.cc. Still, unsurprisingly, customers are worried that Kucoin might be going through terrible issues.
On the channel, a KuCoin Admin identified as Melanie White has asked customers to wait patiently for an official announcement from the exchange. About a week before the court’s injunction, the company was restructured. Based on the news release, its base is now in Seychelles.
Image Credits: Pixabay
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