KuCoin Group Encounters Fraudulent Use of its Brand

The KuCoin group announced that a website is using the KuCoin trademark to ask users to transfer digital assets to earn incentives.

By · Aug 20, 2020 . 5min read

The KuCoin group recently announced that a website is using the KuCoin trademark to ask users to transfer digital assets to particular deposit addresses by operating false incentivizing activity on the webpages. Therefore, it has warned its users against this fraudulent website. The KuCoin Group advises all its users to be extra careful to avoid these types of scams. 

KuCoin also officially tweeted about the fraudulent website via its Twitter account.

The KuCoin Exchange is a global cryptocurrency exchange which started trading back in September 2017. KuCoin has an extremely trained research department that studies top-quality projects throughout the crypto industry. Additionally, the exchange has listed over 210 tokens and 400 trading pairs to date. KuCoin offers a secure and easy-to-use platform for users to efficiently and securely engage in cryptocurrency trades and transactions. Recently KuCoin announced crossing over five million registered in 207 countries.

KuCoin unfolds details about Fraudulent Website.

The report highlights that the website “https://c.yrsm.net/app.php/MzI1” does not affiliate to the KuCoin group in any way. Moreover, it is not authorized to use the company’s trademark and other intellectual property. Additionally, KuCoin has requested users who have transferred digital assets to any deposit address on a fraudulent site to report to the police or relevant authority as soon as possible to recover their losses.

The report further states that “In addition to the official KuCoin events, the KuCoin Group will not organize any form of activities on platforms other than the official platforms (www.kucoin.com and www.kucoin.io) without pertinent notification from the official KuCoin website. Under no circumstances […] intend to disclose any deposit address and instruct users to transfer digital assets to the designated address.”

In March 2018, KuCoin announced that a fake KuCoin app is available at the iOS store. It further cautioned users that it is not the official Kucoin app. Additionally, it requested its users that the only place to download KuCoin’s app from the official site. Summing it up, with KuCoin facing the threat of fake websites, users need to be very cautious while trading.

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