{"id":12856,"date":"2024-04-23T17:54:01","date_gmt":"2024-04-23T14:54:01","guid":{"rendered":"https:\/\/forklog.com\/en\/experts-refute-high-risk-label-on-kucoin-transactions\/"},"modified":"2024-04-23T17:54:01","modified_gmt":"2024-04-23T14:54:01","slug":"experts-refute-high-risk-label-on-kucoin-transactions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/experts-refute-high-risk-label-on-kucoin-transactions\/","title":{"rendered":"Experts Refute &#8216;High Risk&#8217; Label on KuCoin Transactions"},"content":{"rendered":"<p>On April 23, the Telegram channel <a href=\"https:\/\/t.me\/BitLenta\/28510\">\u201cBitLenta\u201d<\/a> disseminated information claiming that unnamed <span data-descr=\"anti-money laundering\" class=\"old_tooltip\">AML<\/span> services had allegedly begun marking USDT (TRC-20) transactions with the KuCoin cryptocurrency exchange as high-risk. Representatives of the trading platform and several external experts consulted by ForkLog have refuted this claim.<\/p>\n<p>As an example, \u201cBitLenta\u201d cited a transaction amounting to 244.5 USDT, associated with the KuCoin cluster, where the counterparty risk was determined to be 75%. A detailed analysis supposedly indicated a high risk due to \u201cenforcement action\u201d \u2014 some form of compulsory measures. The channel did not provide additional transaction details.<\/p>\n<p>In comments to ForkLog, KuCoin representatives stated they found no evidence supporting this information, describing it as \u201cresembling <span data-descr=\"fear, uncertainty, and doubt\" class=\"old_tooltip\">FUD<\/span>.\u201d<\/p>\n<p>Dmitry Machikhin, founder and CEO of the BitOK service, also stated that \u201cBitLenta\u2019s\u201d claims were inaccurate.<\/p>\n<p>Currently, no court rulings or sanctions have been imposed on KuCoin, noted Fedor Ivanov, Director of Analytics at the company \u201cSHARD.\u201d<\/p>\n<p>According to him, it makes no sense to label transactions from the KuCoin exchange as high-risk until the completion of investigations by U.S. authorities. He described the allegations against the platform as \u201cstandard.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c\u2018SHARD\u2019 calculates the exposure of exchange addresses independently of anything. The risk level depends on the coins received at the address,\u201d he added.<\/p>\n<\/blockquote>\n<p>Analysts at HAPI also confirmed the absence of risks for KuCoin addresses in their systems.<\/p>\n<p>Back in late March, the U.S. Federal Prosecutor\u2019s Office <a href=\"https:\/\/forklog.com\/en\/news\/us-accuses-kucoin-of-laundering-9-billion\">accused<\/a> the cryptocurrency exchange KuCoin and two of its founders of laundering $9 billion. This included \u201cproceeds from suspicious and criminal activities, including sanctions violations, darknet markets, and ransomware programs.\u201d<\/p>\n<p>Simultaneously, the <a href=\"https:\/\/forklog.com\/en\/news\/us-accuses-kucoin-of-laundering-9-billion\">lawsuit against KuCoin<\/a> was filed by the <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span>. It charged the exchange with non-compliance with <span data-descr=\"Know Your Customer\" class=\"old_tooltip\">KYC<\/span> and the absence of registration as a futures commission merchant, swap execution facility, or designated contract market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 23, the Telegram channel \u201cBitLenta\u201d disseminated information claiming that unnamed AML services had allegedly begun marking USDT (TRC-20) transactions with the KuCoin cryptocurrency exchange as high-risk. Representatives of the trading platform and several external experts consulted by ForkLog have refuted this claim. As an example, \u201cBitLenta\u201d cited a transaction amounting to 244.5 USDT, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1292,1411,1138],"class_list":["post-12856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aml-kyc","tag-kucoin","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12856"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12855"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}