A statement from Casino Betting Coin on the KuCoin hack

Casino Betting Coin is extremely disappointed to see the continued failure of KuCoin to return coins or compensate CBC holders following the hacking of its exchange in September, 2020.

KuCoin failed in its responsibility to secure the funds of CBC holders on the exchange, and is now failing to adequately address the issue.

In a recent note, KuCoin CEO Johnny Lyu stated that: “no users sustained any loss in this incident”.

We reject this. Users who were holding CBC on KuCoin at the time of the attack have been subject to extremely low daily withdrawal limits and extortionate fees.

At time of writing, CBC holders are permitted to withdraw just 230 CBC (around $11) per day. For each withdrawal, they must pay a 651.5 CBC fee (around $32). We are aware of several users holding hundreds of thousands of CBC on the exchange. The users do not have free access to their holdings.

In Mr. Lyu’s Medium post dated February 3, he stated that 84 percent of funds stolen during the hack have been recovered via coin swaps or law enforcement, and the remaining 16 percent has been covered by KuCoin’s insurance fund.

We have yet to see CBC holders on KuCoin receive access to their full funds, or be compensated. We have also seen no evidence that KuCoin even holds the CBC which is currently being traded on its exchange.

This is a very exciting time for Casino Betting Coin – we have recently completed a major integration with the world’s leading social casino, gametwist.com, exposing CBC to millions of players for the first time. So we are saddened that, more than four months on, KuCoin is yet to suitably address this incident.

Those looking to trade Casino Betting Coin can do so safely and securely at HitBTC, Bittrex Global and Uniswap.

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