KuCoin CEO response against exchange insolvency FUDs


The chief executive officer of the KuCoin crypto exchange responded to the claims made against the crypto exchanges by a Twitter account, which is now deleted.

KuCoin is a leading crypto exchange, which provides safe crypto trading services globally. The exchange has hands in multiple sectors of the crypto industry. Due to quality crypto services, the exchange is standing at 5th rank, just after the Gate.io exchange. 

On 23 July, a Twitter account @Otteroooo claimed that it accessed some internal information regarding the KuCoin exchange. That Twitter account tweeted about multiple facts and points of view to explain the trouble going on with the KuCoin exchange, which was not any type of case according to the exchange.

The account @Otteroooo has been deleted for now but still, the KuCoin exchange responded against these allegations. 

In particular, that Twitter user claimed KuCoin was holding some significant worth of funds in Luan coin, which collapsed badly in May of this year, so the Exchange is currently under a situation where it may faced huge trouble. 

Through the blog post, Johnny Lyu, CEO of KuCoin, said that the exchange had no exposure to the Terra (old Luna) and the Luna balance on the KuCoin exchange is under the holding of KuCoin customers. 

Further, KuCoin CEO said that the exchange is responsible to provide highly simple & secured services to the customers so that customers can use their assets any time as per need.

Lyu explained:

“Having a LUNC wallet does not necessarily mean KuCoin as a company is holding lots of LUNC tokens, and I’m sure the difference is obvious.”

This was not the first time when Fud came against the KuCoin exchange. Earlier this last month, some speculations claimed that the KuCoin exchange lost huge money because of the Terra collapse. 

At that time, KuCoin’s CEO denied all the FUDs and also confirmed that the exchange had no exposure with troubled crypto firms Babel and Three Arrows Capital.  Lyu also warned people to sue, which are spreading FUDs and degrading the reputation of the exchange.

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