KuCoin disputes claims of 77% drop in Bitcoin reserves, unveils robust 106% reserve ratio

KuCoin has pushed backmost against claims suggesting it mislaid implicit 77% of its Bitcoin reserves since 2023.

The crypto speech labeled the circulating figures misleading and inaccurate, emphasizing its committedness to transparency and liable reporting.

KuCoin’s falling Bitcoin reserves?

The contention stems from a report by Onchain School, a data-focused level citing information from CryptoQuant.

According to their findings, KuCoin’s Bitcoin holdings reportedly fell from 18,300 BTC successful June 2023 to astir 4,100 BTC by April 2025.

KuCoin’s Alleged Bitcoin Reserve (Source: CryptoQuant)

The investigation attributes this steep drop, which amounts to astir 14,200 BTC, to KuCoin’s instauration of mandatory know-your-customer (KYC) rules successful mid-2023.

The KYC policy, which took effect successful August 2023, required each users to implicit individuality verification. At the time, KuCoin stated the determination was indispensable to combat transgression enactment specified arsenic wealth laundering and coercion financing.

Onchain School suggested this compliance propulsion prompted users to retreat funds, citing privateness concerns.

The analytics level besides claimed KuCoin’s concern reflects a broader inclination of declining Bitcoin reserves crossed centralized exchanges. However, it stressed that KuCoin’s lawsuit was notably much terrible owed to its timing and scale.

KuCoin releases proof-of-reserve

KuCoin rejected the findings and expressed interest implicit what it described arsenic irresponsible reporting.

The speech stated that the reported numbers bash not bespeak its reserve levels and warned that inaccurate information could erode nationalist confidence.

The steadfast stated:

“We’re acrophobic astir the dispersed of mendacious oregon misleading accusation by immoderate platforms. Irresponsible reporting misleads users and undermines spot successful the crypto ecosystem.”

To reenforce its position, the speech shared its 30th Proof of Reserves, which showed that it held a 106% Bitcoin reserve ratio. This includes astir 9,751 BTC successful idiosyncratic funds and 10,306 BTC successful exchange-controlled wallets.

The study besides showed reserve sum of 116% for Ethereum, 114% for USDT, and 109% for USDC.

The station KuCoin disputes claims of 77% driblet successful Bitcoin reserves, unveils robust 106% reserve ratio appeared archetypal connected CryptoSlate.