Criticism of the exchange widened after DarcyAri alleged 36 transfers from a JuCoin proof-of-reserves address to destinations including Binance and Cobo while users could not withdraw funds.
JuCoin is facing scrutiny after ZachXBT flagged withdrawal issues and reserve concerns, while FlashRescue co-founder DarcyAri alleged that 3,132,140.83 USDT was moved in 36 transactions during the withdrawal suspension. According to DarcyAri’s X post, the funds were sent from a JuCoin proof-of-reserves address beginning with 0x0d14 to several destinations, including a Binance deposit address, a high-frequency distribution address, and a Cobo address. The episode highlights a recurring pressure point in crypto markets: users and analysts look for transparency around customer withdrawals, asset backing and independent verification when assessing an exchange’s financial health.