KuCoin charged with AML violations that let cybercriminals launder billions

The U.S. Department of Justice has indicted global crypto exchange KuCoin and two founders for allegedly willfully failing to maintain AML/KYC controls and concealing U.S. customers, enabling at least $9 billion in suspicious transfers tied to ransomware, darknet markets, malware, and fraud; the founders face criminal charges for operating an unlicensed money-transmitting business and violating the Bank Secrecy Act while KuCoin's leadership disputes the characterization.