News

US files criminal charges against crypto exchange, KuCoin, 2 founders

On Tuesday, Chun Gan and Ke Tang, the two founders of KuCoin, the cryptocurrency exchange, were charged with crimes by the US government.

Chun Gan and Ke Tang are being prosecuted for violating the Bank Secrecy Act and money transmission; the charges particularly mentioned a “multibillion-dollar criminal conspiracy.”

They were named for their part in the alleged illegal behaviour in a news release issued by the US Southern District of New York.

Darren McCormack, the director of Homeland Security Investigations’ New York Field Office, and Damian Willians, the US Attorney for the Southern District of New York, announced the indictment.

The exchange “flouted US anti-money laundering laws to grow KuCoin into one of the world’s largest cryptocurrency exchanges,” according to the document that was released.

The exchange “deliberately sought to conceal” the number of American users on the platform, according to attorney Williams.

The letter further claimed that KuCoin exploited its substantial US user base to establish itself as one of the largest exchanges globally, characterizing its growth as a “criminal conspiracy.”

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.

Jonathan Nwokpor

Recent Posts

Oprah Winfrey speaks on being paid $1m to endorse Kamala Harris

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

2027: Primate Ayodele reveals to LP, NNPP and PDP the only way to unseat Tinubu

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

EPL: Supercomputer makes fresh title prediction

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

EXPOSED: Major reason why Archbishop of Canterbury, Justin Welby resigned

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

Two shot dead over revenue collection in Delta market

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago

VIDEO: What Davido and Eniola Badmus was seen doing in London

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

18 hours ago