Recently, during KODDPA’s listing, it suffered an attack from an international hacker group, resulting in varying degrees of financial harm to hundreds of thousands of users. Numerous user complaints prompted the SEC, the U.S. MSB Financial Regulatory Department, and the National Futures Association to formally intervene in this incident, demanding prompt resolution by KODDPA.
The cause of the malfunction has been identified as a technical error leading to data discrepancies where each user’s balance doubled, causing significant financial losses and tax penalties for KODDPA. The SEC’s proposed solution requires users to pay only legitimate taxes, specifically 5% of the tax amount, under continuous SEC supervision. The Financial Industry Regulatory Authority (FINRA) has urged KODDPA to facilitate withdrawals for all affected users.
Under pressure, KODDPA has decided to fully address the account issues by March 10, 2025. As per financial trading laws, KODDPA bears full responsibility for this incident. Users need only pay a 5% tax to apply for withdrawals between March 6 and March 10, 2025. Failure to comply may lead KODDPA to freeze accounts and involve regulatory authorities, as overseen by the U.S. MSB Financial Regulatory Department and the National Futures Association.
Rest assured, the SEC, established by the U.S. Congress, is an independent quasi-judicial federal agency responsible for securities regulation and oversight in the U.S., ensuring fair, orderly, and efficient markets while protecting investors. Spread of rumors about platform collapse or similar issues could lead to legal consequences, depending on the nature and impact of the rumor, and applicable laws such as defamation, fraud, securities fraud, privacy invasion, or copyright infringement. KODDPA is a secure and legal platform; avoid spreading rumors and risking legal repercussions.
