Shiba

2024

Bank AI

Arkham

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In notable crypto market activity, it was revealed by&nbsp;<a href="https://x.com/whale_alert/status/1772830256468042099?s=20" rel="noopener noreferrer nofollow">Whale Alert</a> that a substantial volume of Shiba Inu tokens, totaling two trillion SHIB, was transferred from the&nbsp;<a href="https://u.today/kucoins-suffers-from-500-million-exodus" rel="noopener noreferrer nofollow">KuCoin</a> exchange to an unknown wallet. This transfer, valued at over $62 million, occurred recently and has garnered attention within the meme-inspired cryptocurrency community.
According to reports from Arkham Intelligence, an on-chain explorer, the recipient of this substantial amount of&nbsp;<a href="https://u.today/shiba-inu-shib-large-transactions-up-220-amid-fight-for-balance" rel="noopener noreferrer nofollow">SHIB</a> tokens appears to be KuCoin itself. Further analysis indicates that the exchange's address also held tokens worth approximately $390 million, with Shiba Inu being the biggest asset within this portfolio after a recent transfer occurred.
<blockquote>
 🚨 🚨 🚨 2,000,000,000,000 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (62,232,000 USD) transferred from <a href="https://twitter.com/hashtag/Kucoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kucoin</a> to unknown wallet<a href="https://t.co/5mARFlvcou" rel="noopener noreferrer nofollow">https://t.co/5mARFlvcou</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1772830256468042099?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 27, 2024</a>
</blockquote>
<h2 id="and-another-one">And another one</h2>
What is important is that the timing of this transfer coincides with the news about legal challenges faced by KuCoin and its founders. Recent reports have outlined felony charges brought against the exchange and key individuals associated with it, citing violations related to the Bank Secrecy Act and unlicensed money transmission from DoJ and CFTC. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="eade9848-05c9-4e71-a01a-134f7419d10a" src="https://u.today/sites/default/files/inline-images/arkhamshib_0.png">Source: <a href="https://platform.arkhamintelligence.com/explorer/address/0x58edF78281334335EfFa23101bBe3371b6a36A51" rel="noopener noreferrer nofollow">Arkham Intelligence</a>
Following these allegations, the exchange experienced a significant outflow of funds, estimated to be around $1.2 billion. However, it appears that the transfer of two trillion SHIB tokens was an internal operation conducted by the exchange itself, rather than a result of user-initiated actions.
This development once again underscores the complexities surrounding regulatory compliance within the cryptocurrency industry. As authorities intensify efforts to enforce regulatory standards, the crypto community awaits further updates regarding recent legal proceedings and their potential impact on KuCoin,&nbsp;<a href="https://u.today/doge-shib-and-bonk-price-prediction-for-march-26" rel="noopener noreferrer nofollow">Shiba Inu</a> and the market in general.

Shiba Inu News: Massive 2 Trillion SHIB Exit From KuCoin Amid Legal Storm

Table of Contents

U_Today

Other articles published on Mar 27, 2024

South Korean Investors Swarm BITX with $122M, Outpacing TSMC

Dogwifhat Price Surge: Can It Overtake PEPE?

Bitcoin Gains Stability Over $70,000 as Supply Tightens and Demand Soars

XRPL blockchain plugs into cross-chain DeFi

Kelexo (KLXO) Sets a New Paradigm in P2P Lending, Gaining Attention from Polkadot (DOT) & Solana ...

WIF Price Awaits A Bullish Explosion With $3.55 Break This Week!

Join our free newsletter for daily crypto updates!