KuCoin Witnesses Over $1 Billion in Outflows

Krutika Adani

KuCoin is currently facing major turmoil as over $1 billion has flowed out in the last 24 hours

This follows US prosecutors' charges against its founders for AML violations

Additionally, KuCoin's reserves have fallen after the US Department of Justice indictment

On-chain analytics reveal $1 billion exiting in 24 hours, dropping the total balance to $3.821 billion from $4.8 billion

Amidst regulatory pressure and a criminal probe, KuCoin is contemplating closure or sale