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Kucoin being overly cautious with withdrawals

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by COINS NEWS 132 Views

Hi,

I've just withdrawn 200$ ETH from my Kucoin wallet. I found the process to be complicated to the point of being almost suspicious. Here is what was required:

  1. Login with email, password and 2FA
  2. Withdrawal request, with trading code, email verification code, 2FA

This is standard and secure enough. I don't see how someone would be able to gain all these different info at once. But I still had to:

  1. Confirm by email that I initiated the transaction (a hacker able to access my email for the verification code could easily reply to this, so what's the point?)
  2. Take a picture with my face, my ID, and a paper with the date, a special code and a signature on it.
  3. The withdrawal was then canceled and I had to redo it.

The process took more than 24hrs to complete. I can understand that Kucoin wants to protect their customers, but it's almost as if they want to slow down withdrawal as much as possible. Liquidity issues, or am I reading to much into it? Did anyone else experienced oddly complicated processes with them recently?

Adios

submitted by /u/Renard2000
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