The exchange announced that the decision is in line with the company’s business strategy.
“To ensure uninterrupted earnings during our temporary shutdown, users who are mining the cryptocurrency are advised to switch their equipment to alternative mining pools until 16:00:00 on August 15, 2023,” KuCoin said in an official statement.
To ensure data integrity and security, the KuCoin team recommends that users ensure that their mining records and related data are backed up and protected until August 27, 2023:
“We deeply regret any inconvenience this may cause, thanking you for your support and understanding.”
Earlier, cryptocurrency exchange KuCoin officially denied the
rumors of an impending layoff of about 30% of its employees. KuCoin assured that hiring, like any potential layoffs, is a normal organizational process.