​KuCoin confirms the ownership of the address of a possible meme coin scammer

What’s new? Representatives of the KuCoin cryptocurrency exchange have confirmed that the address, which is allegedly involved in numerous cases of meme coin scams, belongs to one of the platform’s users. In this, the exchange does not plan to freeze assets on the wallet without an official ruling from law enforcement agencies, but if there is one, it will be ready to cooperate, Cointelegraph reports.

News on the Cointelegraph website

The centralized crypto exchange (CEX) KuCoin was founded in September 2017 and is based in Seychelles. The CEO is Johnny Lyu. As of April 28, there are 757 coins and 1326 trading pairs available on the exchange. The daily trading volume is $660 million, according to CoinGecko.

What else is known? The alleged scammer’s address was identified by a member of the crypto community James Edwards. He wrote on Twitter that the wallet, which allegedly launched two to five meme coins a day for the past two years, is owned and controlled by KuCoin. And Etherscan has already marked the address as involved in phishing attacks.

.@CoinGurruu the wallet that you claim has launched 2-5 memecoin scams per day for the past two years is owned and controlled by @kucoincom. @etherscan has already marked this address as "Fake_Phishing179336". Comments @lyu_johnny? https://t.co/8sy07KujUa pic.twitter.com/gziza5mVNW — James Edwards (@librehash) April 27, 2023

In a comment to Cointelegraph, Johnny Lyu confirmed that the address in question belongs to the exchange, but said that assets will not be frozen until formal notification from law enforcement:

“When the reporting party has provided relevant legal documents, procedures, or reporting records, we will assist and cooperate with law enforcement agencies to take temporary risk control measures in accordance with complaints and reports, user agreements and Seychelles laws.”

Kraken opposes the transfer of its customer data to the US Internal Revenue Service

The exchange’s representatives believe that the IRS has gone far beyond the limits set by the court in its requests

Read further

On the night of April 23-24, hackers took over KuCoin’s Twitter account for 45 minutes. Customers lost 22 628 USDT as a result of interaction with hackers. The exchange’s representatives promised to compensate for all confirmed losses.

And on April 26 a sleuth under the nickname ZachXBT revealed the address of the attacker, who launched 114 scam tokens in the last 45 days alone: 0x739c58807B99Cb274f6FD96B10194202b8EEfB47. The exact amount of damage is unknown, as the hacker also used other wallets to split the funds received.