JuCoin is facing intensifying scrutiny after on-chain investigator ZachXBT said multiple users reported withdrawal issues over the past week and questioned the credibility of the exchange’s reported roughly $511 million in reserves. Earlier criticism from former Salus CMO Darcy also challenged JuCoin’s 123.81% reserve ratio, arguing that much of the disclosed backing consists of mapped or issuer-deployed USDC and USDT representations on JuChain rather than independently verifiable third-party assets. The combined claims raise concerns about both liquidity access and the quality of assets cited in JuCoin’s proof-of-reserves report.