The CEO of KuCoin, Johnny Lyu, stated that the criminal charges brought by the US against the exchange will not impact its operations.

Lyu reassured users that their funds are secure and unaffected by the charges and as such, fear should not be entertained.

In response to the US Department of Justice announcing criminal charges due to violations of anti-money laundering laws, Lyu took to social media to address the situation.

He emphasized that the assets of users are protected and that the team will provide updates on the case's progress.

KuCoin released an official statement to address the allegations and stated that their legal team is looking into the matter. The exchange reiterated that users' funds are completely safe and unaffected by the charges.

Analyst Chervinsky commented that the situation, though seemingly insignificant, is actually quite intense drama in the context of Washington DC's standards.