KuCoin confirmed that the addresses involved in launching thousands of meme coin scams belong to its users, but it will not freeze their assets for now

2023-04-28 17:56:57

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ChainCatcher news, according to Cointelegraph, confirmed by the cryptocurrency exchange platform KuCoin, that an address allegedly initiating thousands of meme coin scams belongs to one of its users. However, KuCoin will not freeze the user's assets without formal notification from law enforcement. KuCoin CEO Johnny Lyu stated, "When the reporting party provides relevant legal documents, procedures, or report records, we will assist and cooperate with law enforcement agencies to take temporary risk control measures based on complaints and reports, user agreements, and Seychelles law."

Previously reported, on social media, on the day before yesterday, on-chain data analyst ZachXBT stated that a user had continuously created 114 meme coin scams over the past month and a half, transferring all the profits to the same address (starting with 0x73). (source link)

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