Crypto exchange KuCoin (CRYPTO:KCS) responds to criminal and civil allegations filed by US prosecutors and the CFTC, assuring users of asset security.

KuCoin Token (KCS) sees a 13% decline in the last 24 hours amidst the legal challenges, trading at $12.43.

The exchange postpones an AMA session with Polkadot but ensures users of efforts to finalize a new schedule.

The US DOJ accuses KuCoin and its founders of money laundering and violating US regulations.

KuCoin reportedly discussed ceasing operations and selling the exchange due to criminal probes in the US and inquiries in China.

Founders Gan and Tang face potential sentences of up to 10 years in prison if convicted, currently being at large.