Another Problem ? KUCOIN CHARGED IN BOMBSHELL MONEY LAUNDERING CASE!!
One of the biggest names in crypto just landed in hot water.
We're talking about KuCoin - the massive cryptocurrency exchange serving over 30 million users worldwide. But if federal prosecutors are to be believed, KuCoin's business operations may have ventured a little too deep into shadowy territory.
According to Coin market news source, In an indictment, authorities have charged KuCoin and its founders Chun Gan and Ke Tang with some serious violations. Violations of the Bank Secrecy Act for failing to implement adequate anti-money laundering safeguards? Check. Allegations of running an unlicensed money transmission business? Check.
According to prosecutors, the exchange was allegedly processing billions in sketchy transactions linked to darknet black markets, malware rackets, and fraud schemes.
The numbers are staggering - over $4 billion in allegedly suspicious funds sloshing out from KuCoin's platforms since its 2017 launch if the charges are accurate. And to make matters worse, prosecutors claim KuCoin was basically an open door for financial foul play.
There are more similar news that I would drop here today , stay tuned .
