KuCoin, a cryptocurrency exchange, has denied allegations that they were limiting transactions on their network due to massive losses from the LUNA crash
Johnny Lyu, the CEO of KuCoin, addressed the issue in the early hours of today. His latest tweets state, Beware of Fear, Uncertainty, and Doubt! I’m not sure who circulates such stories or what their motives are.
Be aware of FUDs!
Not sure who’s spreading these sheer rumors, and what their intentions are, but #KuCoin does not have any exposure to LUNA, 3AC, Babel, etc.
No “immense suffer” from any “coin collapse”, no plan to halt withdrawal, everything on KuCoin is operating well.
— Johnny_KuCoin (@lyu_johnny) July 2, 2022
However, KuCoin has no connection to LUNA, 3AC, Babel, etc. The Tweet also claims no “great suffering” from any “currency crisis.” There is no intention to block withdrawal, and everything on KuCoin works smoothly.
Lyu suggested that the exchange complete its $150 million financing in May 2022, raising the company’s value to $10 billion. He further said that even though several cryptocurrency exchanges recently declared losses, KuCoin continues to grow with additional recruitment even during difficult market situations.
KuCoin retains the authority to take legal action against FUD users who knowingly post unconfirmed information. Even though several cryptocurrency exchanges recently declared losses.
