JuCoin Transfers 3.13M USDT in 36 Transactions During Withdrawal Halt, Say Researchers

According to FlashRescue co-founder Darcy Ari, JuCoin transferred approximately 3,132,140.83 USDT across 36 transactions on June 9 while maintaining a withdrawal freeze. The transfers originated from a reserve proof address (0x0d14) and were directed to three addresses: a Binance deposit address receiving roughly 1.88M USDT, a high-frequency distribution address (0xa9F4) receiving around 1.05M USDT, and a Cobo wallet address (0x8C2E) receiving 200,000 USDT.

FlashRescue stated it is tracking additional JuCoin wallets for further fund tracing. The announcement follows allegations on June 6 that JuCoin's reserve proof was falsified, with claimed USDT and USDC holdings actually representing self-issued tokens.