KuCoin has not paid $2M award tied to delisted token dispute, investor says
A Seychelles Supreme Court ruled that Swiss investor Didier Rabl is the sole owner of about 21 million CoinPoker (CHP) tokens that KuCoin had held for him and ordered three KuCoin Seychelles entities to pay him more than $2 million in USDT plus $10,000 in moral damages. The court found KuCoin’s delisting emails, which said unwithdrawn CHP would be “abandoned,” were not enough to strip Rabl of his rights because no such forfeiture term existed in the original agreement and the exchange made no further meaningful effort to notify him. KuCoin’s Seychelles entities did not appear or defend the case. Seychelles regulators confirmed receipt of the judgment and said a KuCoin-linked VASP license application was rejected, requiring business to cease in or from Seychelles. A legal expert noted the ruling was ex parte and binding only as a first-instance Seychelles judgment. Rabl says he has not been paid and is preparing further enforcement action.
