Crypto exchange KuCoin has lost half of its daily trading market share following charges from the US Department of Justice (DOJ) and the Commodity Futures Commission (CFTC).

After the announcement of the charges, users began actively withdrawing their funds from the platform, which led to a slowdown in the withdrawal process. In response to this, KuCoin launched an airdrop program worth $8.95 million.

However, despite these efforts, the exchange's market share has declined by more than half, falling from 6.5% to 3%. KuCoin's daily trading volume fell by about 75% to $520 million.

KuCoin users reduced their Bitcoin holdings by 25.4% to 12,114 BTC, while their Ethereum balance dropped by 22% to approximately 112,000 ETH.

Despite these declines, KuCoin's reserve certificate confirms that the company is fully backing the assets on its system.