KuCoin
Best for readers weighing wide asset coverage against a criminal plea
How it rates
- Proof of reserves with per-account Merkle verification
- Reserve ratios reported above 115%
- Documentation surface fully open to automated checks
- Pleaded guilty to operating as an unlicensed money transmitting business
- Trust score and rank below the leaders in this group
- No public status page found at the conventional address
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- Not metAuthorisation from a recognised financial regulator, evidenced publicly
No current authorisation established at this check; guilty plea to unlicensed operation on the record.
www.chaincatcher.com/en/article/2164965 - MetProof of reserves with per-account verification
Merkle verification available to customers.
www.kucoin.com/proof-of-reserves - MetMost recent reserve publication within 12 months
Programme published and maintained.
www.kucoin.com/proof-of-reserves - Met
- MetNo unremediated custody-loss incident on the public record (24 months)
None identified within the window at this check.
www.kucoin.com/proof-of-reserves
- Met
- PartialEntry-tier maker and taker rates displayed
Page published; rates not captured at this check.
www.kucoin.com/vip/level - PartialVolume tiers with thresholds displayed
Tier page published; thresholds not captured at this check.
www.kucoin.com/vip/level - Not met
- Met
- MetListed with an independent trust score
CoinGecko exchange dataset, trust score 9.
api.coingecko.com/api/v3/exchanges - Not met
- Not met
- Met
- Met
- PartialRegulatory status disclosed publicly
Terms published; current authorisations not established.
www.kucoin.com/legal/terms-of-use - PartialOperating entity and jurisdiction identifiable
Terms name operating entities; group structure not fully established at this check.
www.kucoin.com/legal/terms-of-use - MetReserve disclosure on own domain
Programme hosted on the company's own site.
www.kucoin.com/proof-of-reserves - MetEnforcement history on the public record
Guilty plea and DOJ settlement reported; CFTC settlement March 2026.
www.chaincatcher.com/en/article/2164965 - MetIndependently corroborated reserve reporting
Reserve ratios independently reported.
coinbureau.com/analysis/is-kucoin-safe
- Met
- Not met
- Met
- Met
- Met
KuCoin publishes third-party proof of reserves with Merkle verification and reserve ratios above 115%. It also pleaded guilty in a US federal court to operating as an unlicensed money transmitting business, and a March 2026 CFTC settlement converted its US withdrawal into a permanent bar absent further registration. Both belong in the same assessment.
Our assessment
KuCoin publishes third-party proof of reserves with Merkle verification and ratios reported above 115% for major assets. It also pleaded guilty in a US federal court to operating as an unlicensed money transmitting business, and a March 2026 CFTC settlement converted its US withdrawal into a permanent bar absent further registration. A review that mentions only one of those facts is not a review.
Reserve reporting that does the job
The programme is third-party verified and uses Merkle proofs, so a customer can confirm their balance was included in the attested total rather than trusting a headline figure. Reported ratios above 115% for Bitcoin and Ethereum indicate a buffer above parity. On the reserve pillar specifically, this is a competent programme.
The enforcement record
A guilty plea to criminal violations is not an ordinary regulatory footnote, and our transparency pillar records it as established history rather than allegation. Our methodology excludes country availability from scoring, so the loss of US market access does not itself move the number — but the conduct that produced it does, because it speaks to how the business was run.
What comes after
The company has announced a large compliance and transparency programme following the settlements. Forward-looking commitments do not score under this rubric: they are promises, not verifiable controls, and the rubric only credits what a reader can check today. If those commitments produce published licences and independent attestations, the score will move at the next verification.
Who it suits
KuCoin fits traders who want very wide altcoin coverage and verifiable reserves, and who have read the enforcement history and judged it priced in. Readers who treat a criminal plea as disqualifying have better-scoring options in this table with comparable coverage.
How rivals compare
Frequently asked
Is KuCoin safe to use after the DOJ case?
It pleaded guilty to operating as an unlicensed money transmitting business and settled with the CFTC in March 2026. Its reserve reporting is verifiable; the enforcement record is part of the assessment and worth reading before deciding.
Does KuCoin publish proof of reserves?
Yes — third-party reports with Merkle verification, allowing customers to confirm inclusion, with ratios reported above 115% for major assets.
Why does the US ban not lower the score more?
We do not score country availability. The enforcement history behind it is scored, under transparency and track record.