Criminal charges trigger $62 million Shiba Inu (SHIB) flight from KuCoin, but there's a catch
exchange to an unknown wallet. This transfer, valued at over $62 million, occurred recently and has garnered attention within the meme-inspired cryptocurrency community.tokens appears to be KuCoin itself. Further analysis indicates that the exchange's address also held tokens worth approximately $390 million, with Shiba Inu being the biggest asset within this portfolio after a recent transfer occurred.
What is important is that the timing of this transfer coincides with the news about legal challenges faced by KuCoin and its founders. Recent reports have outlined felony charges brought against the exchange and key individuals associated with it, citing violations related to the Bank Secrecy Act and unlicensed money transmission from DoJ and CFTC.Following these allegations, the exchange experienced a significant outflow of funds, estimated to be around $1.2 billion.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.MEMECON: The First-Ever Meme Coin Conference, Celebrating MEME Culture in Lisbon! Lets Get REKT!
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