Cryptocurrency exchange KUCOIN has completely refuted rumors that suggested that them halting withdrawals on their platform owing to heavy losses suffered due to the LUNA collapse.
Johnny Lyu, the CEO of KuCoin has come out clean on the matter earlier today. In one of his recent tweets, Lyu wrote:
Be aware of FUDs! Not sure who’s spreading these sheer rumors, and what their intentions are, but KuCoin does not have any exposure to LUNA, 3AC, Babel, etc. No “immense suffer” from any “coin collapse”, no plan to halt withdrawal, everything on KuCoin is operating well.
Instilling confidence among KuCoin users, Lyu further explained that the crypto exchange recently finished its $150 million fundraising in May 2022 taking the company valuation to $10 billion. He also added that while many crypto exchanges have announced layoffs, KuCoin continues to grow with more hiring even in these critical market conditions.
Lyu has further threatened legal actions against those trying to spread the FUD and maligning the exchange. He wrote: “Being transparent is always one of our key principles. We will soon publish our 2022 H1 review report where you can know more about our operations. For FUDers who intentionally spread unverified info, KuCoin reserves the right to take legal actions. Don’t FUD, BUIDL”.
