KuCoin Launches 1 Million USDT Black Friday Giveaway
- The event will take place from 29 September to 10 October.
- Users will be able to participate in task-based and gamified activities to receive prizes and discounts.
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Cryptocurrency exchange KuCoin announced the launch of KuCoin Crypto Friday, a giveaway event scheduled from 29 September to 10 October. According to the company’s press release, KuCoin will give away a total prize pool of 1 million USDT.
The event was created to promote cryptocurrencies by offering users an improved experience when trading on KuCoin.
“KuCoin Crypto Friday is an exclusive event designed by KuCoin that enables users around the globe involving with crypto in various entertaining and interactive ways,” said Johnny Lyu, the CEO of KuCoin. “With the inevitable trend towards the exponential growth of the crypto industry, we believe that social interaction is the key to empower the industry development. This is what KuCoin is focusing on moving forward, to transform into the first and the largest social trading platform. The launch of KuCoin Crypto Friday is a key step in this journey.”
KuCoin Crypto Friday will open on 29 September, enabling users to collect shards of 4 different types of gold coins by performing tasks on the exchange. Acquiring a complete gold coin makes users eligible for a share in the 100,000 USDT reward with others, with each user able to generate a maximum of 100 gold coins. In addition to that, users will also be able to use 5 identical shards to get one chance for a lucky draw, the company said.
The prizes include discount coupons for purchasing BTC, ETH, LTC, KCS, and VRA, 0% interest rate coupons for margin trading, and a fee deduction bonus for futures trading. A 90% discount channel will be open on 8 October, enabling users to purchase the above-mentioned cryptocurrencies at a discount.
- The updated KYC checks will be introduced on 15 July, after which new users will be required to complete the process in order to gain full access to the exchange’s services.
- Existing users who fail to complete the KYC checks will face limitations on the platform, such as being unable to deposit new funds and only having access to certain services.
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- The Twitter account of the crypto exchange was compromised for roughly 45 minutes on Monday, resulting in 22 transactions connected to the hack.
- KuCoin has calculated that the total asset losses were 22,638 USDT, and noted that it will fully reimburse users affected in the incident.
- The exchange is also waiving any fee on the conversion of USDT to USDC in order to stimulate the swap and make it frictionless.
- The move came only three months after rival exchange Binance started to auto-convert USDC to its own BUSD stablecoin.