An Update on The Aurox Token and Our Relationship with Kucoin
We find ourselves at a pivotal moment, one that necessitates a transparent dialogue about recent changes concerning the Aurox Token. Our commitment to you has always been to provide a secure, efficient, and transparent platform.
Today, we continue that commitment by sharing some important updates.
The Decision to Chart a New Course
Approximately eight months ago, we came across odd on-chain behavior. The behavior looked like your run-of-the-mill arbitrage, but these transactions seemed odd because of low volumes and lack of volatility in the crypto industry,
We investigated deeper and even attempted to counteract the transactions. We wanted to prevent these transactions from happening while also gathering more evidence.
In the end, we weren't able to confirm the full scope of our hypothesis due to certain limitations, but we were able to verify that certain contractual obligations were not fulfilled.
When we presented the evidence to KuCoin, they did confirm our findings. Apparently, miscommunication with their internal team led to the mistake. They did try to rectify the situation but only partially.
Although we felt the issue wasn't fully resolved, the transactions had stopped, and it made more sense for our company to focus on much more significant items on our plate.
However, soon after, we were notified by our users that KuCoin had frozen deposits and withdrawals. We were never notified by any such issues by KuCoin.
Even after contacting Kucoin, the issue remained unresolved for months with no end in sight. We were not told when the deposits or withdrawals would be re-enabled, or were we told the exact reason.
These two problems led us to a difficult but necessary decision: to request the delisting of the Aurox token from KuCoin. This move is designed to protect our brand integrity and, above all, the interests of our valued users.
The Road to Delisting – A Journey Lacking Signposts
We initiated the delisting process over a month ago, expecting a transparent and collaborative dialogue. Unfortunately, our experience was quite the opposite. Despite numerous attempts to gain clarity on the process, our questions often went unanswered or were met with vague responses.
Our goal was to write this very article before the token delisting, provide information as to why the Aurox Token was delisting, and allow our community to ask questions.
The lack of communication culminated in an unexpected turn of events: the sudden delisting of the Aurox token, which caught us and our community off guard. In fact, this very post had to be written after we discovered the token was delisted via a social media post instead of being notified directly and prior to the scheduled delisting.
What Lies Ahead – A Future Focused on Transparency and User Experience
As we move forward, our focus remains steadfast on enhancing the Aurox token and the functionalities it offers. We're also shifting our attention towards collaborations with entities in more regulated regions like North America and Europe. This strategic pivot is not just a reactive measure but a proactive step based on our long-term vision.
While the immediate implications of our recent decisions may not be entirely clear, we assure you that this is a significant positive development for our company. Stay tuned in the coming months for a follow-up article that will provide a fuller picture of the situation.
Conclusion
We understand that change can be unsettling, but we want to assure you that every decision we make is with the best interests of our community in mind. Our commitment to transparency, security, and user experience remains unshaken.
We thank you for your continued support and understanding as we navigate these new horizons. Keep an eye on our updates for more detailed information and exciting announcements about what's next for the Aurox Token and our broader ecosystem.
