KuCoin's Bitcoin reserves plummet by over 77% since KYC rumors

According to data from CryptoQuant cited by OnlhainSchool, since the KYC rumors began on June 5, 2023 and the official announcement of mandatory real name registration on June 28, KuCoin exchange's Bitcoin reserves have sharply decreased from 18300 to 4100, with a net outflow of 14200, a decrease of 77.6%. Although the overall reserve decline of centralized exchanges is an industry trend, the sharp decline in KuCoin has attracted attention, highlighting users' high sensitivity to privacy and compliance policies. The chart shows that the trend has been continuously declining since the announcement.