Since the U.S. Department of Justice and CFTC filed a lawsuit against KuCoin, over $1.2 billion has flowed out

ChainCatcher news, following the charges brought by the U.S. Department of Justice and the Commodity Futures Trading Commission last week, the daily trading volume of the cryptocurrency exchange KuCoin has dropped from $2 billion on March 26 to $520 million, a decrease of about 75%. Since March 26, KuCoin has seen outflows exceeding $1.2 billion.

Kaiko analysts believe that on-chain data indicates KuCoin users have been transferring funds to competing cryptocurrency exchanges, including Coinbase, Binance, and OKX.