The announcement was made through a press release issued by the United States Southern District of New York, which specifically named Chun Gan and Ke Tang for their alleged involvement in illegal activities.

The indictment was unveiled by Damian Willians, the US Attorney of the Southern District of New York, and Darren McCormack, the head of Homeland Security Investigations New York Field Office.

According to the unsealed document, KuCoin is accused of violating US anti-money laundering laws in order to expand its operations into one of the world's largest cryptocurrency exchanges. Attorney Williams emphasized that the exchange deliberately concealed the extent of its US user base.

The indictment further alleges that KuCoin capitalized on its substantial US customer base to achieve its status as one of the largest exchanges globally, labeling this development as a "criminal conspiracy."

This indictment marks a significant development in the ongoing efforts to regulate the cryptocurrency industry, highlighting the US government's commitment to enforcing financial regulations and combating illicit activities within the digital asset space. As the legal proceedings unfold, the cryptocurrency community awaits further insights into the implications of these charges for KuCoin and its founders.