KuCoin Responds to KYC Allegations: The Truth Behind the 77.6% Reduction in BTC Reserves Revealed!

KuCoin strongly denies the claim that KYC requirements led to a sudden 77.6% drop in its Bitcoin reserves. According to Onchain School data, KuCoin's Bitcoin reserves decreased from 18,300 BTC to 4,100 BTC since the KYC rumors began in June 2023. Despite the overall industry facing a trend of declining reserves, KuCoin stated that this data is inaccurate, emphasizing that the platform still holds strong Bitcoin reserves.

Analysis indicates that after the tightening of KYC policies, KuCoin experienced capital outflows, with over 14,000 BTC leaving. However, KuCoin insists that this is part of compliance requirements, especially under legal pressure from the United States. The platform explained that the KYC upgrade is to meet global anti-money laundering standards and will continue to be implemented to avoid conflicts with U.S. laws.