Crypto exchange Kucoin found itself at the center of the discussion when a cryptocurrency sub-community on Twitter began warning investors about an incoming cash-out ban.
Kucoin CEO Johnny Liu, however, was quick to dismiss the unverified rumors before they gained momentum, CoinTelegraph reported.
Prominent crypto figures on Twitter, including trader @KongBTC and blockchain investigator @otteroooo, have asked their followers to withdraw all their funds from Kyucoin with the claim that the exchange may block All users are close to withdrawing funds.
Rumors have linked Keucoin's intention to halt withdrawals with Terra (LUNA) and the collapse of Three Arrows Capital, which according to warnings has caused the exchange to suffer tremendously due to the massive exposure of falling tokens.
While dismissing the supposed rumors through the tweet above, Liu highlighted the company's strong stance by revealing a recent $150 million funding, which put the company's valuation at $10 billion in May 2022.
He also noted that the company is currently hiring for multiple positions, asking investors to make their own judgment amidst fear, uncertainty and doubt, saying: There is no enormous suffering from any Coin collapse, no plan to stop withdrawal, everything on Kyucoin is working fine.
Away from Kyucoin and away from bankruptcy rumors, Liu confirmed that the company's review report for the first half of 2022 shared detailed information about its operations. Finally, he sent a warning to people accusing Kyucoin of shutting down services and causing panic among investors, saying: For rumor mongers who intentionally spread unconfirmed information, Kyucoin reserves the right to take legal action. Don't spread rumours, build.
