KuCoin Margin Services for BitTorrent (BTT) Temporarily Closed

Dear KuCoin Users,

According to the BitTorrent official announcement, the 1000-for-1 BTT split plan was activated on December 12, 2021.

To enhance users’ experience in Margin and avoid the potential risks that may be caused by BTT split plan, KuCoin will temporarily close the Margin services of BTT. Meanwhile, to protect users’ assets maximally, please cancel open orders, close positions, repay loans and transfer BTT from the Margin account to other accounts in advance.

Related follow-ups to this subject will be announced separately as soon as possible.

The arrangement details are as follows:

At 02:00:00 on December 16, 2021 (UTC), KuCoin will close the lending and borrowing services of BTT.

The lending and borrowing services of BTT will be unavailable, as well as its auto-renew service.

The closing of auto-renew for the expiring loans may increase the debt ratio, so it is recommended to repay loans in time to avoid the risk of liquidation.

At 02:00:00 on December 17, 2021 (UTC), KuCoin will close the Margin trading service of BTT and repay loans.

KuCoin will close the BTT/USDT Margin trading service and the function of transferring BTT to the Margin account (transferring BTT from the Margin account to other accounts will not be affected). If users have BTT debts in their Margin account, the system will automatically activate the liquidation process to repay BTT loans.

To avoid asset losses, it is recommended to repay BTT loans in advance!

At 02:00:00 on December 20, 2021 (UTC), BTT assets in the Margin account will automatically be transferred to other accounts.

The system will detect whether there are BTT tokens in users’ Margin account automatically. If there are BTT tokens in users’ Margin account, the system will automatically cancel all open orders, activate the liquidation process to close the positions and repay all loans (including BTT and other loans). At last, transfer BTT out to the Main account.

To avoid asset losses, it is recommended to control the debt ratio and transfer BTT out from the Margin account in advance!

Note:

1. BTT Spot trading service is not affected.

2. It is recommended that you can cancel the open orders, close the positions, repay the loans and transfer BTT out to other accounts by yourself in advance. KuCoin assumes no responsibility for any losses arising from failure to operate in time.

We apologize for any inconveniences this may cause.

Thanks for your support!

The KuCoin Team