KuCoin Crypto Exchange Temporarily Suspends Tether (USDT) Withdrawals and Deposits

As per a tweet on KuCoin’s official Twitter handle, the firm has announced that it will be temporarily suspending all USDT transactions across its platform. While there appears to be no major reason for this sudden halt, it seems as though this move is part of a larger wallet maintenance regime that KuCoin adheres to regularly.

https://mobile.twitter.com/KuCoinUpdates/status/1051658751420366848

Additionally, according to a blogpost on KuCoin’s official website it can be seen that the exchange is currently in the process of updating their USDT wallet system so as to better secure it against third party infiltrations and other nefarious miscreants.

The post also notes that up until further notice, any deposits and withdrawals associated with USDT and its trading pairs will not be available.

Lastly, while there appears to be nothing out of the ordinary happening here, there are those on twitter who feel that Tether might be on the verge of an economic collapse. Such talk should not be taken seriously as there appears to be nothing special happening here.