The on-chain investigator said users reported withdrawal problems over the past week and questioned whether most of the exchange’s stated reserves were self-issued stablecoins.
JuCoin is facing scrutiny after ZachXBT said multiple users reported withdrawal issues on the exchange over the past week. He also challenged JuCoin’s reported $511 million in reserves, alleging that most of the holdings consist of USDC and USDT issued on the platform itself. The claims raise familiar concerns for crypto traders because persistent withdrawal problems can signal liquidity stress, while reserve quality matters when exchanges cite asset backstops as proof of solvency.