KuCoin
KuCoin is a global cryptocurrency exchange founded in 2017 and registered in the Seychelles, known for one of the widest altcoin selections of any major venue and for listing smaller tokens early. It runs spot, futures and earn products and its own token, KCS. Its record is defined by two events: a large 2020 hack from which users lost nothing, and a 2025 US legal settlement over anti-money-laundering failures.
- Founded
- 20172017
- Registration
- Seychelles
- Exchange token
- KuCoin Token (KCS)
- US status
- Pleaded guilty to a Bank Secrecy Act charge and agreed to exit the US market for two years2025-01 · source
Is KuCoin safe?
KuCoin's safety question has an unusually clear data point behind it. In September 2020 it was hacked for about $280M, and yet no user lost money: the exchange recovered the large majority on-chain and through partners, and covered the rest from its own insurance fund (see the incident record below). That is the outcome a custodial exchange is supposed to deliver when things go wrong, and KuCoin delivered it.
The larger caveat is regulatory rather than technical. In 2025 KuCoin's operator pleaded guilty to a US Bank Secrecy Act charge and agreed to keep out of the US market for two years. That does not touch the security of the platform, but it does mean US residents are not the intended audience, and jurisdiction is a real part of “is it safe for me”.
What KuCoin is known for
KuCoin's calling card is breadth. It lists a very large number of tokens, often earlier than the bigger US-facing exchanges, which is why it shows up in searches for smaller assets that Coinbase or Kraken do not carry. It pairs that with futures, lending and staking products and its own exchange token, KCS, which pays a share of trading-fee revenue to holders. The trade-off for that breadth is the regulatory standing above: reach and early listings, at the cost of a US license.
Incident record
Attackers drained roughly $280M from KuCoin's hot wallets. KuCoin recovered about 84% through on-chain tracking, contract upgrades by token projects, and judicial recovery, and covered the remaining ~16% from its insurance fund. No user lost funds as a result.
In our ratings
Where we score KuCoin against its peers on open data. The number lives there, not here.
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Frequently asked
Is KuCoin safe?+
On the security question, KuCoin's 2020 hack is the strongest evidence: it was drained of about $280M and users still lost nothing, because it recovered most funds and covered the rest from insurance. The bigger caveat is regulatory — it pleaded guilty to a US Bank Secrecy Act charge in 2025 and agreed to stay out of the US market.
Can I use KuCoin in the US?+
No. As part of a 2025 guilty plea over anti-money-laundering failures, KuCoin agreed to exit the US market for two years, so US residents are not the intended audience.
Did KuCoin recover from its hack?+
Yes. After the September 2020 hack of about $280M, KuCoin recovered roughly 84% on-chain and through partners and covered the remainder from its insurance fund, so no user lost money.
What changed
- 2026-09-28Profile created: founding and registration, the KCS token and altcoin breadth, the 2025 US settlement, and the 2020 hack with a confirmed-recovery verdict.