Since the rumors of KYC, KuCoin's Bitcoin reserves have decreased by over 77%

According to ChainCatcher's message, citing CryptoQuant data from OnChainSchool, since the KYC rumors began on June 5, 2023, and the official announcement of mandatory real-name registration on June 28, the Bitcoin reserves of KuCoin exchange have sharply decreased from 18,300 to 4,100, with a net outflow of 14,200, a decline of 77.6%.

Although the overall decline in reserves of centralized exchanges is a trend in the industry, the drastic drop at KuCoin has raised concerns, highlighting users' high sensitivity to privacy and compliance policies. The chart shows that this trend has continued to decline since the announcement.