KuCoin, a leading cryptocurrency exchange has witnessed the withdrawal of over $1.2bn from its platform over the last 24 hours following a withdrawal frenzy by users caused by fresh US Charges levelled against the platform.
According to BeinCrypto, the platform saw about $500m in assets withdrawn from the Ethereum blockchain alone.
In Response, KuCoin CEO Johnny Lyu emphasized the common regulatory challenges faced by Crypto startups citing KuCoin’s latest enrolment with India’s FIU as the effort his exchange is making to meet regulatory requirements and eschew legal compliance.
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