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KuCoin CEO slams insolvency rumors citing “no plan to halt withdrawal”

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Crypto exchange KuCoin found itself at the center of discussion when a sub-community of Crypto Twitter started warning investors about an incoming ban on funds withdrawal.

KuCoin CEO, Johnny Lyu, was however quick to dismiss the unvetted rumors before they picked up steam.Prominent crypto figures on Twitter, including trader @KongBTC and blockchain investigator @otteroooo, requested their followers to withdraw all of their funds from the KuCoin while claiming that the exchange may soon stop all users from withdrawing funds.WITHDRAW FROM KUCOIN RIGHT NOWNot a drillno time for threadlike and retweet to spread the messageotter hardly wrong in such mattersRumors linked KuCoin’s intent to stop withdrawals with Terra’s (LUNA) and 3AC collapse, which according to the warnings, led to “immense suffer” for the exchange owing to high exposure to the fallen tokens.Be aware of FUDs!

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