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Kucoin / The U.S. Justice Department indicted KuCoin and the two founders
« on: March 27, 2024, 07:35:25 AM »The US Department of Justice has filed charges against cryptocurrency exchange KuCoin and its two founders.
1. Illegal transactions totalled more than $9 billion since 2017.
2. KuCoin conducted 3.2$ million worth of transactions using the Tornado Cash crypto-mixer.
3. Violation of bank secrecy laws, anti-money laundering regulations and insufficient reporting of suspicious activity.
4. Deliberately serving US customers without appropriate licences and registration as a financial service.
Source: https://www.justice.gov/usao-sdny/pr/prominent-global-cryptocurrency-exchange-kucoin-and-two-its-founders-criminally
Several sources have confirmed that KuCoin was considering ceasing operations and selling the exchange in 2023.
Analysts note that in the last 24 hours, 500$ million worth of assets have been withdrawn from KuCoin on the Ethereum network.
Source: https://twitter.com/WuBlockchain/status/1772807207123599620