The cryptocurrency exchange KuCoin and its two founders are facing investigations and legal actions that have worried investors. After the investigations began, there were substantial withdrawals by investors, revealing a trend of increasing withdrawals at the exchange. Recent data showed that the withdrawals were not limited to a few instances.

Following charges against KuCoin, crypto investors moved $208 million worth of assets out of the exchange, as reported by the blockchain analysis platform Nansen. The outflow included $99 million in Ethereum (ETH) and $108 million in Ethereum Virtual Machine (EVM) assets.

Current data suggests that KuCoin holds over $6 billion in assets among various networks like Ethereum, Bitcoin (BTC), Solana (SOL), and others. The US Department of Justice and the Commodity Futures Trading Commission filed charges against KuCoin and its founders for running an unlicensed money transfer business without proper anti-money laundering protocols. KuCoin is described as a billion-dollar criminal enterprise by authorities.

The price of Ethereum stood at $3,601 after a 2.88% increase, with a 3.5% rise in the 24-hour trading volume, totaling $18.6 billion. This surge in trading volume for Ethereum may indicate increasing investor interest.