Cryptocurrency news

Experts have denied the presence of a high risk label for transactions with KuCoin

Forklog / 23.04.2024 / 14:58
Experts have denied the presence of a high risk label for transactions with KuCoin

On April 23, the Telegram channel \"BitLenta\" spread information that unnamed AML services allegedly began marking USDT (TRC-20) transactions with the KuCoin cryptocurrency exchange as high-risk. Representatives of the trading platform and a number of third-party experts with whom ForkLog spoke refuted this statement.

As an example, BitLenta cited a certain transaction in the amount of 244.5 USDT related to the KuCoin cluster, in which the counterparty's risk is determined at the level of 75%. A detailed analysis gives a high risk, allegedly due to \"enforcement action\" — some kind of coercive measures. The channel did not provide additional details of the transaction.

In a ForkLog comment, KuCoin representatives reported that they had not found confirmation of this information, calling it "similar to FUD."

Dmitry Machikhin, the founder and CEO of the BitOK service, also stated that the statements of "BitLenty" are not true.

At the moment, no court decisions have been made against KuCoin and no sanctions have been imposed, said Fyodor Ivanov, director of analytics at SHARD.

According to him, it makes no sense to mark transactions from the KuCoin exchange as high-risk until the investigation by the US authorities is completed. At the same time, Ivanov called the claims made against the platform \"standard\".

"SHARD calculates the exposure of exchange addresses regardless of anything. The level of risk depends on the coins coming to the address," he added.

The absence of risks for KuCoin addresses in their systems was also confirmed by HAPI analysts.

Recall that at the end of March, the US Federal Prosecutor's Office accused the KuCoin cryptocurrency exchange and its two founders of laundering $ 9 billion. Among them are "proceeds from suspicious and criminal activities, including sanctions violations, darknet markets and ransomware programs."

At the same time, the CFTC filed a lawsuit against KuCoin. She charged the exchange with non-compliance with KYC and lack of registration as a futures contract broker, a swap execution platform or an authorized derivatives market.

https://forklog.com/news/mnenie-delo-kucoin-podcherknulo-protivoborstvo-cftc-i-sec
Source
Recently News

© Token Radar 2024. All Rights Reserved.
IMPORTANT DISCLAIMER: All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.