KuCoin Hit by $200M Withdrawal Surge After DOJ Charges

Since the recent indictment of the cryptocurrency exchange KuCoin and its founders by the Department of Justice (DOJ), there has been a significant increase in the number of withdrawal activities. Nansen, an onchain analytics firm, observed a major exodus of funds from the platform in which more than $200 million were pulled from the Ethereum-based assets and other EVM-compatible chains in a short period.