Category: KuCoin

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Whales Shift Assets As KuCoin Faces Legal Scrutiny

Following the negative news of criminal charges against KuCoin by the US Government, a significant movement of assets away from the exchange has been observed. Spotonchain data reveals that approximately $500 million has been withdrawn from KuCoin on the Ethereum network in the past few hours. ~$500M has been withdrawn from the Kucoin exchange on the Ethereum network in the past hours after the US Government indicted KuCoin on Criminal Charges. The top withdrawing:~274M $USDT~15.5K $ETH (~$55M)~50M $ONDO (~$46M)~12M $FET (~$34M)~95.38M $GHX (~$21.8M) More… pic.twitter.com/6gQW0ybnZB — Spot On Chain (@spotonchain) March 27, 2024 The top assets being withdrawn include approximately

The post Whales Shift Assets As KuCoin Faces Legal Scrutiny appeared first on The Merkle News.

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CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodities

CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as CommoditiesThe U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern District of New York, accuses Kucoin of multiple regulatory breaches involving these digital assets. Kucoin’s Legal Battles Shine a Bright […]

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Kucoin’s Legal Woes Spark Massive $1.7 Billion Withdrawal, Onchain Data Reveals

Kucoin’s Legal Woes Spark Massive $1.7 Billion Withdrawal, Onchain Data RevealsAfter the Kucoin indictment on Tuesday, subsequent onchain data from Nansen indicates that, to date, $1.7 billion in funds have been withdrawn from the exchange. Crypto Assets Worth $1.7 Billion Pulled From Kucoin Since the Department of Justice (DOJ) accused Kucoin and its founders of breaching the Bank Secrecy Act and anti-money laundering regulations, there […]

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KuCoin Faces Charges For AML Violations In The US

KuCoin, a prominent player in the cryptocurrency exchange arena, has found itself embroiled in legal proceedings with US prosecutors over alleged violations of anti-money laundering (AML) regulations. The exchange, known for its substantial daily trading volume exceeding $2 billion, has been accused of failing to comply with American AML rules, as revealed by federal prosecutors in Manhattan. US prosecutors charged KuCoin, one of the world’s largest cryptocurrency exchanges, and two of its founders for failing to comply with American anti-money laundering rules. https://t.co/QVv6VUh95S — Bloomberg Crypto (@crypto) March 26, 2024 According to prosecutors, KuCoin and its founders have been charged

The post KuCoin Faces Charges For AML Violations In The US appeared first on The Merkle News.

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Nansen Reports $200 Million Exodus From Kucoin After DOJ Action

Nansen Reports $200 Million Exodus From Kucoin After DOJ ActionFollowing the Department of Justice’s (DOJ) legal action against Kucoin and its founders, analysts from Nansen specializing in real-time onchain data revealed that Kucoin experienced a withdrawal of $99 million in Ethereum-based assets and $109 million in outflows from various EVM-compatible chains. Ethereum and EVM Chains See $200 Million Outflow From Kucoin On a Tuesday, […]

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Crypto Exchange Kucoin and Founders Charged With Bank Secrecy Act and Money Laundering Violations

Crypto Exchange Kucoin and Founders Charged With Bank Secrecy Act and Money Laundering ViolationsThe Southern District of New York has announced charges against the global cryptocurrency exchange Kucoin and its founders for major violations of U.S. anti-money laundering laws. Kucoin Faces Legal Firestorm for Alleged Anti-Money Laundering Failures Damian Williams, the United States Attorney for the Southern District of New York, detailed the charges against Kucoin, accusing the […]

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