Withdrawal Frenzy on KuCoin: Users Pull Out Over $1.2 Billion Amid US Charges
Wednesday, 27 March 2024, 10:45
KuCoin Withdrawal Frenzy: Over $1.2 Billion Withdrawn Amid US Charges
KuCoin, a leading cryptocurrency exchange, is currently facing a tumultuous period following a US government criminal complaint.
Key Points:
- Withdrawals: $500 million withdrawn on the Ethereum blockchain alone.
- Outflows: Significant withdrawals despite hot wallets holding over $3.6 billion.
- Net Outflow: KuCoin witnessed a net outflow of roughly $1.195 billion in the last 24 hours.
Despite regulatory challenges, KuCoin remains committed to compliance and transparent communication amidst turbulent times.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.