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The Securities Division has received a complaint concerning KGBX from a Washington resident. The complainant alleged that he traded cryptocurrency on KGBX’s website https://kgbxexss.com/#/.
According to the complaint, when the complainant attempted to withdraw funds that he had deposited on the website, KGBX rejected the attempt. Specifically, KGBX responded, "we kindly request that you initiate withdrawals only after your trading account has achieved 3 x turnover during trading. Thank you for your understanding and cooperation in helping us maintain a secure and compliant trading environment." The complainant has not since been able to recover any of his deposited funds from KGBX.
The Securities Division has not verified these allegations.