KuCoin Alert: Ethereum & EVM Chains See $1.78B Exodus

KuCoin Faces Unprecedented $1.78 Billion Asset Outflow Amid Legal Woes

In a startling development that has sent ripples across the cryptocurrency sector, KuCoin, a top-tier crypto exchange, experienced a massive outflow of assets totaling $1.78 billion from the Ethereum and Ethereum Virtual Machine (EVM) chains. Data from the reputable on-chain analytics firm Nansen highlights a significant withdrawal of over $842 million from Ethereum and $938 million from EVM chains within a mere 24-hour window, marking a dramatic decline in the exchange's assets by more than 15%.