KuCoin CEO Warns of FUD Attacks on the Crypto Exchange

KuCoin, one of the largest cryptocurrency exchanges, has been trending on Twitter for the last 24 hours with over 25,000 tweets, but for the wrong reasons. The trending terms include “KuCoin bankrupt,” “KuCoin insolvent,” and “KuCoin withdraw.”

So far, only unreliable sources are calling on people to withdraw their cryptocurrency from the KuCoin exchange claiming the exchange may halt withdrawal soon. The CEO of KuCoin Johnny Lyu consequently created a Twitter trend to shed light on the state of affairs at KuCoin.

He said those information about KuCoin is all rumors and that KuCoin has no exposure to Terra LUNA, Three Arrow Capital, Babel Bank, etc. And that neither do they have plans to halt withdrawal, “everything on KuCoin is operating well,” he added. He further shared some facts and milestones KuCoin recently achieved to prove that all is fine at KuCoin.

Some recent facts about KuCoin, and you can make your judgment:

We finished $150 M fundraising at a $10 B valuation in May. We are one of the few platforms that are still hiring. We are more active in the bear market, launching new features like OCO order, fiat pair.”

He concluded his tweet on a sound note threatening panic mongers of legal action.

Although the CEO of KuCoin claimed the company has no exposure to Babel Finance, a report from KuCoin’s official website shows that both the companies had entered into a strategic partnership in 2019. The report said, “both companies will jointly innovate and work together to provide more valuable financial services to users.”