My name is moetaz meddeb, hope that my post helps someone to avoid Kucoin as I will be taking my own life after making this post, I had my entire life savings in Kucoin, I trusted that CEX. After depoing crypto from my main wallet and trying to withdraw 27 xmr they decided to mark my withdrawal as pending for approval in order id 6a7d43c75771400007823fcb. I received an email saying "Urgent: Provide Proof of Source of Funds for Recent Deposit"

To comply with AML regulations and unfreeze your assets / continue using our services, please provide Proof of Source of Funds (SoF) for the recent deposit within three calendar days by below link.

Failure to provide the above within three days will result in permanent freezing of the deposited assets and possible account restrictions.

I have only 3 days to recover my life savings. Their customer service is the absolute worst and only gives out robotic answers, they ask for 8. Source of Funds
Salary / Employment income/Sale of property/Sale of shares / securities/ 3 month Bank Statements with related transactions 9. Source of wealth
ex: Investments, Bank Deposit, Asset Sales, Bank statement, Saving Account, etc
Provide proof of your crypto sources. To effectively prove the source of funds for your deposit to KuCoin, you need to provide at least two layers of transaction history tracing back the funds;

I live in algeria and dont even have a bank account. All of my money was made through freelancing and they wont take it as an source of funds.

AVOID THEM AT ALL COSTS

Quote from: Coyster on August 15, 2026, 08:11:25 PM

Quote from: mabji1 on August 14, 2026, 10:54:13 AM

KuCoin has faced numerous allegations and incidents related to scams, including a recent report of $9.5 million stolen through its deposit addresses so now they want to get this from their users.

The $9.5 million wasn't actually stolen from Kucoin, it was stolen through a fake Ledger Live app that was unfortunately listed in Apple's App store. Though the funds were laundered through 150 Kucoin deposit addresses linked to a mixing tool called AudiA6, which makes them culpable.

Quote from: welovebit on August 14, 2026, 11:06:21 AMNow I am avoiding these exchanges at all costs because they have too many clauses to stop money and create problems. Few like

you are still doing business and having problems like this.

That's a good decision, because even if it is Kucoin in this particular case, it could as well be any centralized exchange. They are all notorious for the same reason, which is to block withdrawals and request for further verifications, some of which may even be impossible to provide.

P.S. Stay alive OP, help is coming. Maybe not now, but sometime in the future!

complaints throughout the internet saying KUCOIN a Chinese exchange, is it right?

Quote from: mabji1 on Today at 09:28:10 AM

complaints throughout the internet saying KUCOIN a Chinese exchange, is it right?

KuCoin was founded in China back in 2017, but after China's ban on crypto, they shifted their headquarters from China to Seychelles, but one thing is sure: their history is full of criminal records and fines. Just because of this, doing any kind of business with them is always risky.

Recently they partnered with Donald Trump World Liberty Financial, which is also a controversial company. It's never been ideal to have an account on an exchange like this.

Quote from: welovebit on August 18, 2026, 09:38:53 AM

KuCoin was founded in China back in 2017, but after China's ban on crypto, they shifted their headquarters from China to Seychelles, but one thing is sure: their history is full of criminal records and fines. Just because of this, doing any kind of business with them is always risky.
Recently they partnered with Donald Trump World Liberty Financial, which is also a controversial company. It's never been ideal to have an account on an exchange like this.

Yes, since the platform is regulated, they may ask customers to show where their money came from or request additional ID verification.

Anyone using KuCoin or any other CEX should read the terms and policies first. Many people agree to create an account without even reading these important documents.

I don’t see a problem with asking for the source of funds like what happened with the OP. If the money came from a legit source as he says from freelance work, then showing proof shouldn’t be that hard.

So even if their review takes some time, he shouldn’t get frustrated and he should continue providing whatever they request until they unlock his funds.

I wouldn’t advise anyone to transfer all their funds to a CEX at once. Be careful, because what happened to the OP could happen to anyone.

Quote from: albon on August 18, 2026, 02:51:04 PM

I don’t see a problem with asking for the source of funds like what happened with the OP. If the money came from a legit source as he says from freelance work, then showing proof shouldn’t be that hard.

In OP's words: "they won't take it as a source of funds", so i'm guessing that for him to write that, he has presented Kucoin with proof from the freelance job he does, and it was rejected. Centralized exchanges can be very difficult in situations like this, and passing their request can even prove impossible sometimes.