KuCoin will remove Venom (VENOM) and NFPrompt (NFP) from spot trading at 08:00 UTC on October 14, according to an October 12 announcement. The notice contains a more consequential restriction than a routine trading deadline: deposits and withdrawals are already unavailable and will remain closed.
The exchange instead offers an application-based buyback payable in USDT, capped at 100 USDT per user across the affected tokens. That cap means the proposed arrangement should not be described as an unlimited conversion of every customer’s holdings.
Trading stops after the bot deadline
Under KuCoin’s published schedule, affected spot trading bots stop at 06:00 UTC on October 14, two hours before spot pairs are removed. Outstanding spot orders are automatically removed when trading ceases. The notice advises users to manage bots and orders before those deadlines.
These are separate events. Stopping a bot ends an automated trading process; delisting ends trading in the affected spot pairs. Neither action establishes that a customer can transfer tokens elsewhere. In this case, the stated withdrawal restriction makes that distinction particularly important.
An exchange delisting is also not the same as the disappearance of a blockchain or a token everywhere. The announcement describes KuCoin’s services. It does not establish the status of every other venue, confirm another market’s liquidity, or guarantee an alternative route out.
The buyback requires an application
The submission window runs from October 12 at 08:00 UTC to October 26 at 08:00 UTC. KuCoin lists conversion rates of 0.001696872 USDT per VENOM and 0.00025 USDT per NFP. It says holdings will be checked against an account screenshot, permits one submission per UID, and expects payment within two weeks after the window closes.
Those are exchange-set conversion terms, not live market prices. A reader should not interpret them as a fair-value assessment, a redemption right offered by either token issuer, or a commitment to compensate every possible loss. Applications and the combined cap are material conditions of the proposed payment.
Why access matters as much as the displayed balance
Customers of a custodial exchange depend on the venue’s trading, transfer and withdrawal arrangements. The ability to see a token balance does not guarantee the ability to sell it at a displayed price or move it to a personal wallet.
Our self-custody guide explains the different responsibilities of controlling keys directly. It is background, not a workaround for these restrictions: a wallet cannot pull tokens out of an exchange when the exchange does not process withdrawals.
The immediate development is therefore a combination of scheduled trading removal and an already restricted exit path. Users assessing their position need to distinguish the trading deadline, the application deadline and the payment conditions. KuCoin reserves the right to adjust its buyback terms, so the current official notice remains the relevant source for any later change. No completed buyback payments or account-specific outcomes have been independently verified.