About KuCoin exchange

Kucoin is a cryptocurrency exchange based in Seychelles, founded in 2017 by Chun Gan, Ke Tang, Michael Gan, and Johnny Lyu, who is the current CEO. Originally established in China, the exchange relocated to Singapore due to restrictions from the Chinese government before moving to Seychelles. Kucoin offers its own crypto token called Kucoin Shares (KCS).

In November 2018, Kucoin raised $20 million in funding, and in May 2022, it secured $150 million in another round, leading to a company valuation of $10 billion. Following this, it announced a $10 million investment from Susquehanna International Group (SIG) to support blockchain startup incubation and ecosystem growth. In September 2020, Kucoin experienced a significant security breach, losing $281 million in crypto assets due to exposed private keys linked to its wallets. The North Korean hacker group, Lazarus Group, was blamed for this incident, which has been labeled the biggest cryptocurrency hack of 2020. By February 2021, Kucoin reported successfully recovering a substantial amount of the stolen funds through cooperation with partners and law enforcement.

Regarding its legal status, in March 2023, New York’s Attorney General sued Kucoin for not registering with the state before allowing cryptocurrency transactions. As a result, Kucoin agreed to pay $22 million and block New York users from its platform. In March 2024, the U. S. Commodity Futures Trading Commission filed charges against Kucoin and its founders for violating anti-money laundering laws. Similarly, Canada’s Ontario Securities Commission issued a statement in June 2021 claiming that Kucoin was operating an unregistered trading platform, leading to a permanent ban and a fine.

In the Netherlands, the Dutch central bank warned Kucoin in December 2022 for operating without registration and not complying with anti-money laundering laws. The bank emphasized that Kucoin was illegally offering currency exchange services. In October 2023, the UK’s Financial Conduct Authority included Kucoin on its warning list, stating that it lacked the necessary regulatory approval to operate in the UK.

What Is KuCoin?
KuCoin is a cryptocurrency exchange built with the mission to “facilitate the global free flow of digital value.” It claims to have an emphasis on intuitive design, simple registration process and high level of security. The platform supports futures trading, a built-in P2P exchange, the ability to purchase cryptocurrencies with a credit or debit card, and instant exchange services.

Also known as “people’s exchange”, the platform facilitated 1.2 trillion in lifetime trading volume and supports over 30 million users worldwide. The company claims to offer technology-driven trading products and the KuCoin ecosystem, which encompasses the KuCoin community and is built around the KuCoin token (KCS).

Who Are the KuCoin Founders?
KuCoin was founded in 2017 by Michael, Eric, Top, Kent, John, Jack and Linda. The exchange officially launched in September 2017.

In 2020, when KuCoin is a top-5 exchange in the world, Johnny Lyu stepped in as the CEO. Before joining KuCoin, he worked in the tech, internet and e-commerce industries.

Where Is KuCoin Located?
The company is international, headquartered in the Seychelles and offices in Hong Kong and Singapore, with more than 30 million users worldwide and a presence in over 200 countries.

KuCoin Restricted Countries
The platform provides services to countries such as Turkey, India, Japan, and many others. Please check their official website for supported countries.

What Coins Are Supported on KuCoin?
The platform has a large number of trading pairs, it offers nearly 700 cryptocurrencies for buying, selling and trading, the list of the top coins includes BTC, ETH, USDT, BNB, ADA, XRP, USDC, DOGE, DOT, UNI and more.

Does KuCoin work with Iranians?
Iranian users can access international cryptocurrency trading platforms such as Binance and Kucoin . These platforms offer a secure environment to trade cryptocurrencies with Iranian cryptocurrency and also offer levrage and many currencies.