OK here is a little parable for context to start EDit for explanation***
If I was a bank and I sold you a mortgage ( the dumbest riskiest loan, a completely bad idea even if it was high interest in the middle of a forest fire, with dinosaurs shooting ninjas out of their eyes) I cant close my doors for 9 months and say you are in violation of repayment and foreclose on YOUR house.
If they disclose that detail of the bank not being open for repayment you are SOL. They fulfilled Fiduciary duty, if they don’t its Willful and wanton negligence .
Want to learn more about Fiduciary duty click here
Last night Kucoin went down AGAIN. They liquidated a whole bunch of people but did not give them access. The exchange came back online. They admit to having issues …..say sorry, take your crypto offer you a coupon and maybe 1% refund)
Do they get to keep the crypto because they locked the doors?
fuck no it’s been 5 damn minutes, hit the reverse button give it back.
I was available to fulfill my contract. I survive T-rexes breathing fire-shooting ninjas out of their eyes and had my payment ready for you. they are called…. Willfully and wanton negligent and in breach of their Fiduciary duty to you as an investor
For all the people who want to call me a conspiracy theorist at what point do I get to call bull shit. The server going down gag doesn’t work anymore in been 9 times in 45 days.
I was there, I was ready, you locked the damn doors. give it back now.
If that server came back online the crypto is not gone? FUCK NO Its in a wallet. Hit the revers button JOHNNY KUCOIN. Your shit fucked up not mine. You are in breach of your Fiduciary duty
let me flip the tables for perspective.
Kucoin lets me keep my money on a trade rather than putting it in thier wallet.
I screw up and get liquidated.
Can I turn off my computer so they cant get payment?
I can say sorry once, maybe twice. but not 9 times in 45 days and 39 times over5 hours overtimes on September 7th.
At what point do we all say.. WAIT A MINUTE.
You never fix your computers or let anyone know what happens if you go down?
You never had a risk disclaimer.
This is a bull shit front!
If it wasn’t an issue why won’t they post a disclaimer?
At what point are the computers going down too much?…..
Well there are links for that and stasitics polling etc
Here is the average result as a percentage and as actual downtime:
Why was the margin price for liquidation removed less than 24 hours before their crash?
look at the time stamp 2021/09/06 03:29:55Announcements
If you look at the charts you know that the market was overheated. Someone at Kucoin had the TA knowledge or OTC desk customers were getting orders in. Oh boy they knew it was coming.
So I want them to come here and say we had no idea!. We have no one that can do TA to predict the market.
Wow Johnny_Kucoin it looks like big drop is coming.
We will have taxed servers. How should we handle it??
Did he say to remove the margin liquidation price on 9/6/2021 and forget the servers being upgraded through predictive scaling at aws?
Don’t bother to make sure you check the Cloud flare HSTS settings are in check, we don’t care if people get a 1015 error like last time?
ANY CTO would be shit canned at any other company that did this!
The servers all have logs, everything records utilization and loads.
They never take data from the previous crash (may 2021)to stop it from happening next time September 7th 2021
*there were a ton of crashes in between there***
How are you going to tell me that they are being entrusted with 20 billion dollars of transactions a day if they cant do this?
I smell a rat!
If they can’t keep their servers online is it my responsibility to know? How can I? Its their fiduciary duty to tell you of the risk
They either have the worst IT team in the history of the planet or there is some bull shit.
If you elected to have that bad of IT you need to tell me. Then own it
u/johnny_kucoin always says PM Me I will take care of you
The masses are disarmed and the cycle repeats.
If they are innocent where is the disclaimer?
They HAVE A GOD DAMN DISCLAIMER FOR THE STOP LOSS NOT ALWAYS TRIGGERING
They will tell you all about that one when you get liquidated. Its so they can enforce policy over you. They met their fiduciary duty by having it.
It they have that bad of an IT problem…. kill the trades without penalty, can I accidentally hit someone with my car and not payout.
Why are they banning so many people?
Call me a liar.
But let me ask one question at what point and I allowed to say Something is not right!
Hate on me all you want but at what point am I allowed to say please, just look. Is it 5 outages in a month? 25 in 3 months?
Give me a number so I can say OK this is over the top. Anyone who talks about this is a conspiracy theorist or attacked for using leverage!
They trade 24billion a day in transactions, right? With how many It outages?
Is that acceptable?
Are the big numbers coming from the OTC desk? Are those orders being processed during the downtime?
I would like to find 25-50 people since last night that we can vouch for before this moment that got a 100% refund!
Help me. I will eat my words
I will shut up and go away if someone can give me a sound reasonable threshold of tolerance for them to have server crashes this frequently?
What is a reasonable policy for them to have?
If my computer goes down 5 times a month do I get 5 refunds while I am trading?
Where is the disclosure that they have these IT outages?
I am sorry people, but look …..find proof to call me a conspiracy theorist. Rather than demand, I have proof
they need a reasonable policy and these outages are over the top
I haven’t liquidated my debt clock ween to over 1BILLION PERCENT! BILLION
they tried to liquidate me, I was like What the…….
They won’t provide the math for 1billion percent price point they won’t give me any audit results.
I wasn’t liquidated I sold off and took catastrophic loses
Am I allowed to call bull shit on a 1 BILLION PERCENT debt clock? you get liquidated at 97% I burnt 200k keeping it going, I had pictures of video logs.
If anyone comes here and calls me a conspiracy theorist or says this is a witch hunt I want the community to respond and ask ok. How much is too much be for you fix the computer or add a disclaimer?
Why is there no kill switch
If you want to victim blame me for wearing the sexy leverage outfit to the trade, and say I asked for “it” its not ok. It does not make this any less of a scam.
Sorry to use sexual violence as a reference here, but its a common argument over sexual victims (victim shaming). I am so desperate for people to connect the dots I have to go there. *I apologize to any survivors,. I am trying to stop unknowing peple from getting destroy*
If you did not have a disclaimer, and they repeatedly (over 10 times in 2 months) go down and give out coupons rather than repayment
At what point do we get to call this a scam and not an issue with leverage?
Go thorugh these archive nonth by month. an count
THis is over the top, no company should be moving billions with that fault tolerance.
Even the HKex, CME and other have kill switches
You dont get to tell me if I dont like i can go there, because som man y peolple dont knwo the kill switch exists or what thier outage history looks like
After this rant Reddit either crucifies me or asks questions either way this post is a digital bread crumb trail to find the answer.
Lets start here
To save this word, you’ll need to log in.
Log In ˈfrȯd
Essential Meaning of fraud
1: the crime of using dishonest methods to take something valuable from another personHe was found guilty of bank fraud. credit card fraud was the victim of an elaborate fraud.2: a person who pretends to be what he or she is not in order to trick peopleHe claimed he was a licensed psychologist, but he turned out to be a fraud.3: a copy of something that is meant to look like the real thing in order to trick people
In civil litigation, allegations of fraud might be based on a misrepresentation of fact that was either intentional or negligent. For a statement to be an intentional misrepresentation, the person who made it must either have known the statement was false or been reckless as to its truth. The speaker must have also intended that the person to whom the statement was made would rely on it. The hearer must then have reasonably relied on the promise and also been harmed because of that reliance.
A claim for fraud based on a negligent misrepresentation differs in that the speaker of the false statement may have actually believed it to be true; however, the speaker lacked reasonable grounds for that belief.
Use the Services to violate applicable law or infringe any person’s or entity’s intellectual property rights or any other proprietary rights; Use the Services in any manner that we reasonably believe to be an abuse of or fraud on Reddit or any payment system https://www.redditinc.com/policies/user-agreement-september-12-2021
They also lack KYC and are in violation of us Embezzlment laws
The Money Laundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made money laundering, a federal crime. It was passed in 1986. It consists of two sections, 18 U.S.C. § 1956 and 18 U.S.C. § 1957. It for the first time in the United States criminalized money laundering. Section 1956 prohibits individuals from engaging in a financial transaction with proceeds that were generated from certain specific crimes, known as “specified unlawful activities” (SUAs). Additionally, the law requires that an individual specifically intends in making the transaction to conceal the source, ownership or control of the funds.
What Is Embezzlement?
Embezzlement refers to a form of white-collar crime in which a person or entity misappropriates the assets entrusted to them. In this type of fraud, the embezzler attains the assets lawfully and has the right to possess them, but the assets are then used for unintended purposes.
Embezzlement is a breach of the fiduciary responsibilities placed upon a person.
Embezzlement takes place when a person uses funds for a different purpose than they were intended to be used. Embezzlers might create bills and receipts for activities that did not occur and then use the money paid for personal expenses. Ponzi schemes are an example of embezzlement. Businesses lost approximately $400 billion each year to theft. Embezzlers can be held civilly and criminally responsible for their crimes.
They are in breach of fiduciary duty which qualified them for embezzlement
that segways into this
I did a write up here
WE can let thier investors know
They also know what they are doing
They tried to trick me into signing a waiver to release them of legal liability as a condition to get my money back
If you agree report them to Reddit now. They know. They are afraid
I did the footwork, you can send this link and demand Reddit investigate.
a subject line example
r/kucoin is using Reddit as a vehicle to conduct fraud and embezzlement
there is a full Reddit post here
Subject line example :
I implore you to go read the posts of them stealing money from everyone on r/kucoin which is a violation of Reddit’s policies
they are using their platform to take everyone’s money and have more outages than everyone else.
they lack disclosure of risk and are in breach of fiduciary duty, which by the United States, World Trade Order and Most Favored Nations Policy is embezzlement as it is appropriated through subterfuge and fraudulent means gain someone else item of value
Here is a breakdown on Reddit (a posting)
I am not asking you to use my words. It is just an example ~if you agree I am not aware of any rule that states you can not just copy and paste sake
If you are new here or dont know about the Kucoin exchange go here
Read the comment and come to your own conclusions
***edit see below**
The one argument that a lot of people make is that “all the exchanges go down. “
Johnny wants you to say that
in Kucoin’s instance its different.
People are getting throttled out via rate-limiting. error 1015.
This falls under HSTS security protocols, and thier cloud flare has those settings. in the HSTS panael. They can turn off rate limiting or scale to a bigger service. They can also crank it down to let less fault tolerances and kick the proverbial hose
What is Rate Limiting?
Since lots of requests in a short period of time can overload a website, Cloudflare lets a site owner monitor and control your bandwidth consumption.
You can limit the impact of high-volume traffic by setting up a “rate-limiting” rule on a per-IP address or domain basis through the Cloudflare rate-limiting feature in your website owner settings.
With rate limiting, Cloudflare can automatically block traffic from a suspicious site visitor or IP address so that hackers, spammers, and other online pests are can’t bog down your site’s performance with DDoS attacks and other illicit activities.
Cloudflare Error 1015: “You are rating limited” results from one of a few possible causes.
Most frequently, when a legitimate site visitor is being blocked by the rate-limiting error 1015 it’s due to issues with the rate-limiting configuration that only the site owner can fix.
the rate-limiting configuration that only the site owner can fix.
only the site owner can fix.
These guys also never fix it and are WAY WAY WAYYYYYYY outside of the normal fault tolerance of their competition and the average web server down time