KuCoin airdrops to stop panic after US allegations

Amid legal allegations, cryptocurrency exchange KuCoin announced its decision to launch a $10 million airdrop.

In a statement published on March 28, Johnny Lew, CEO of the cryptocurrency exchange, said, Plans revealed The company will make an airdrop that will include Bitcoin (BTC) and the native token KuCoin (KCS) and the terms of which will be announced in three days.

In his writing, Lew reminded that in recent times exchange users have been experiencing long wait times During withdrawal processes. For this reason, “we feel deeply responsible for this inconvenience and want to sincerely apologize.”

The manager explains that the launch is done “to express our deep gratitude for your support and patience”. Ensures that initiative is taken Gratitude for the support of loyal users,

The executive is thus referring to the withdrawal of more than US$800 million that took place in KuCoin after the United States authorities. Will file a lawsuit against the company,

Legal action was taken by the Justice Department and the Commodity Futures Trading Commission. Both institutions have accused the Seychelles (Africa)-based platform of violating bank secrecy laws and operating a money transfer business without a license.

According to Justice Department allegations, the company’s two founders evaded anti-money laundering policies and moved more than $9 billion in “suspicious and criminal funds.”

As CriptoNoticias reported, panicked user withdrawals have so far had an impact on the reserves. appears limitedHowever the situation has raised concerns in the cryptocurrency community.

The KuCoin team emphasizes that the delay is due to high transaction volume. During the generating process, after knowing the demands, they have assured the users that All assets are protected,

The exchange has also pointed out that its legal team is in charge of addressing the lawsuits and is investigating the details through its lawyers, reiterating that they comply with current regulations and the platform remains operational.

However, in the statement about the airdrop, Lew did not specifically mention the issue of the lawsuits over his X account. express Regulatory actions taken by the United States Not specific against KuCoin, He assured that this is a widespread practice in the ecosystem. “The challenge we face responds to the specific regulatory and development problems faced by emerging industries,” he commented.

Leave a Reply

Your email address will not be published. Required fields are marked *