Coinspeaker
Analysts Say KuCoin Remains Fine amidst Criminal Allegations

Analysts at the blockchain analytics company CryptoQuant have assured users that KuCoin is fine and standing strong despite the criminal allegations leveled against the company and two executives. In a recent social media post, Ki Young Ju, founder and CEO of CryptoQuant, said that KuCoin is “fine” based on on-chain metrics.

Sufficient Reserve to Honor Withdrawal Requests

After news broke about the lawsuit filed by the US Department of Justice (DOJ) and the Office of Homeland Security Investigations (HSI), users began withdrawing funds from KuCoin, fearing for the safety of their assets.

However, Young Ju disclosed that despite the increased withdrawal requests for Bitcoin (BTC) and Ethereum (ETH), KuCoin has sufficient reserves to fulfill withdrawal requests.

On-chain wise, @kucoincom is fine.$BTC and $ETH withdrawals surged, driven mainly by retail users, with a small impact on the overall reser...