According to US prosecutors, "KuCoin was used to transmit billions in suspicious transactions and potentially criminal proceeds, including proceeds from darknet markets and malware, ransomware, and fraud schemes."
KuCoin has agreed to pay $297 million in penalties, and will leave the US market for at least two years. Furthermore, two company founders who were also charged will no longer work for the company. Prosecutors reached a deferred prosecution agreement with the two founders, who will also forfeit around $2.7 million each.
