KuCoin admitted guilt in laundering billions of dollars and agreed to pay a fine of more than 297 million dollars, leaving the U.S. market for two years. The founders are leaving the company 💸

KuCoin has admitted guilt in violating U.S. laws, agreeing to pay a fine of over 297 million dollars and leave the U.S. market for two years. The company was used for money laundering billions of dollars obtained from darknet markets, ransomware programs, and fraud. KuCoin failed to implement mandatory anti-money laundering measures, which facilitated illegal transactions. The founders of the exchange, Chun Gan and Ke Tan, will leave the company and return approximately 2.7 million dollars earned from U.S. operations.