Crypto exchange KuCoin has confirmed that the address allegedly responsible for launching thousands of meme coin scams belongs to one of its users. However, the exchange will not freeze the user's assets without any official notice from law enforcement. The exchange confirmed that the wallet address belongs to one of its users, but they will not freeze the account until they receive a notice from the relevant authorities. If community members encounter any suspicious behavior, they must report it to the police and submit the relevant materials to the exchange's team. KuCoin's official Twitter account was compromised on April 24, resulting in some of its followers losing their assets. The exchange promised to reimburse the victims affected by the hack.

(By EZRA REGUERRA)