Unveiling the Future: Why Kabuni X Is Pioneering a Safer, More Secure Exchange Ecosystem
Within weeks of listing the Kabuni COIN, a significant development on November 15, 2023, reaffirmed my long-standing concerns about the cryptocurrency industry’s inherent challenges, courtesy of MEXC’s actions.
As it stands, MEXC continues to block us from withdrawing a considerable amount of $258,049.22 belonging to Kabuni, while blatantly ignoring cease-and-desist orders to delist KBC. Such actions not only raise serious questions about the platform’s ethical conduct but also highlight a concerning trend of disregard for legal and financial responsibilities within the sector.
Compounding the issue, our legal team’s desktop forensics investigation uncovered that MEXC’s claimed operational presence in several markets has been de-registered by the countries’ official bodies. This discrepancy between their stated operations and actual corporate structure is not only misleading but potentially fraudulent.
Moreover, the entity mentioned in their contracts appears to be non-existent, with no legitimate business operations or even a CEO.
The events of the 15th continue to send shivers down my spine, and I urge anyone with assets on the exchange to withdraw them immediately. Partners of the exchange supporting entrepreneurs with their projects should, at a minimum, highlight the lack of corporate structure in the appropriate jurisdictions, as their silence or inaction makes them complicit in these practices.
The situation escalated when I received a message from Jessica, a Business Development Manager, requesting that we reverse a trade from the previous night made by a “fat-fingered” VIP customer. The conversation below illustrates a clear attempt at blackmail, demanding we reverse the trade.
We agreed to comply, provided the transaction could undergo KYC/AML procedures, which the trader refused. Subsequently, MEXC blocked any withdrawals and deposits of Kabuni COIN, particularly during a crucial reward program phase, evidently pressuring us to illegally reverse the trade.
I am shocked at the total disregard they have shown, seemingly to protect what I believe is a member of the MEXC team. This situation has posed significant challenges for Kabuni, our team, and our partners. $250k goes a long way in supporting our progress, and having it pulled from us through no fault of our own has made it difficult to keep moving forward. Thanks to the team and partners who have borne the brunt of this, we have managed to move forward, and for that, we are grateful.
They didn’t stop there; with the so-called VIP, who is presumably a MEXC staff member, they then launched a fraudulent Kabuni ICO through a Telegram group. This was essentially a wallet drainer for anyone who connected their wallet.
This moment compelled me to thoroughly examine how we’ve been fulfilling Kabuni’s mission to unlock the design potential in every human being and elevate life. Rather than solely focusing on building an education company, we’ve utilized this situation as an opportunity to ensure that Kabuni COIN and our community remain safe. This has been the driving force behind the pivot and launch of Kabuni X. However, this does not imply that our years of research and development have gone to waste. Instead, Kabuni X will now fund ten education founding teams this year who are aligned with our thesis and research. Then annually explore new moonshots across 10 industries over the next decade, further expanding our impact and fostering innovation in areas crucial to our mission and the broader world.
I never want anyone — and I mean anyone — to go through what we have, and this is not an isolated case. If you conduct due diligence on the current exchange market, you’ll find that very few platforms meet the standards of full transparency and genuinely prioritize their customers’ interests, self-regulating to a standard that fosters mass adoption.
Kabuni X, while born out of frustration from my experiences with MEXC, is a well-thought-out initiative that will operate out of Switzerland through an SRO, aiming to build a global presence and set the standard for regulation. I have often mentioned at conferences that 1 billion people are on the cusp of embracing crypto, many of whom are from Gen Z. They will not make the leap until it becomes easy, safe, and secure. Kabuni X is designed to fulfill this promise. We will also steer clear of any projects that do not advance our mission to unlock the design potential in every human being and elevate life.
The features we’ve meticulously designed for our community are aimed at creating a level of trust and safety that is rare in today’s industry. Through initiatives like deposit insurance, transparent operations, and community-driven project approvals, Kabuni X is pioneering a path toward a blockchain ecosystem where security and reliability are not just promised, but tangibly experienced by every member. This dedication to trust and safety is our commitment to not only our community but to the future of blockchain itself.
- Genuine Trading Environment: We ensure all trading activities are authentic, devoid of any artificial manipulations, to maintain equity across all users.
- Community-Driven Project Approval: Projects listed on our platform are vetted and approved by Kabuni COIN holders, ensuring they resonate with our community’s values and interests.
- Zero Listing Fees: By removing listing fees, we lower the barriers for innovative projects to gain recognition and accelerate their growth.
- Unwavering Reserve Guarantee: Our commitment to maintaining full reserves of all deposited funds is a testament to our dedication to trust and security.
- Transparent Proof of Reserves: Users have the ability to independently confirm our reserve status, further solidifying our credibility.
- Robust Deposit Insurance: We offer deposit insurance to safeguard user assets against unexpected losses, showcasing our absolute commitment to protecting our users.
I am confident that as we develop Kabuni X, featuring its core pillars — with my favorite being the deposit insurance, for reasons you can imagine — Kabuni will set a new standard for safety and security. This is no small feat, and many have pointed out that it will require a colossal effort. However, they underestimate one crucial factor: our community.
Building through our community is one of our mantras, and to achieve this, we have launched an NFT collection that bridges the physical and digital, never losing sight of our mission to unlock the design potential in every human being and elevate life.
The ChangeMaker NFT will have a total supply of 1 million over time and will be minted as we grow our community, keeping the supply minted to less than 5% of our community size. The ChangeMaker NFT will have different versions, like the SuperClub ChangeMaker NFT, with only 1000 minted for our early pioneering adopters.
We have crafted these NFTs to distribute value in Kabuni COIN to our community as we expand, through roles, staking, trading, and the added benefit of voting on key decisions, now including rewards for roles, staking, and trading. We’ve also developed X NFT Passes, offering additional perks beyond what the ChangeMaker NFT provides. The Platinum, Gold, and Silver passes are tailored to grant access to Kabuni SHARES, which will be created and listed as an STO in Switzerland. The Bronze X NFT Pass offers global access, serving as a badge of honor for our community members actively building out our mission to unlock the design potential in every human being.
These NFTs are designed to drive real value to anyone who holds one and actively participates in the community, through votes, staking, roles, trading, and Kabuni COIN rewards that enhance these activities. For some, engaging with these opportunities could very well become the sole endeavor they need to elevate their lives. Kabuni COIN has been crafted with the fundamental mission to unlock the design potential in every human being and elevate life. As of writing this blog, we have surpassed a $600 million market cap and possess a community poised to use this momentum towards enacting lasting change and creating a legacy.
I hope you can read, learn, and see how we’ve transformed a situation that could have sunk us into a genuine opportunity to continue the Kabuni journey and fulfill our mission. I am confident that our 80,000-strong community across our social platforms will soon grow to millions.
Regarding MEXC, I fully expect them to drain our account of $250,000, and I will certainly update the community. If anyone wishes to read or requires the supporting documentation related to MEXC’s corporate structure and the cease-and-desist letters, please let me know.
As you finish reading this, I ask you to do one thing: explore our white-paper, jump into our Discord, and then MINT a ChangeMaker NFT and X NFT Pass. Join us in helping one billion people adopt crypto and, more importantly, in witnessing the real power of blockchain.
🐦 Twitter 📸 Instagram 📘 Facebook 🔗 LinkedIn 🎥 YouTube 👾 Discord 📠 Telegram 📥Reddit 📖 White Paper 🌐 Website
I welcome any and all comments, but please do not interpret this as investment advice. This blog is meant to share our journey, insights, and developments with our community and interested readers. It is important to conduct your own research and consult with a professional advisor before making any investment decisions. Kabuni and its team are not responsible for any financial losses resulting from actions taken based on the information provided here. Let’s continue to explore the potential of blockchain together, with an open mind and a cautious approach.
