ZachXBT Flags JuCoin Over Withdrawal Issues and Reserve Concerns

ZachXBT said multiple users have reported withdrawal issues on JuCoin over the past week. He also questioned the exchange’s reported $511 million reserves, alleging most consist of USDC and USDT issued on its own JuChain without clear backing. ZachXBT further noted JuDAO suffered a $20 million incident in 2025 and a $225,000 exploit in April 2026, while JuCoin attributed the delays to platform upgrades and restructuring.

via x.com/WuBlockchain

$511M in reserves where most of it is stablecoins they printed on their own chain is not reserves, that's a screenshot of a number. "Platform upgrades and restructuring" is doing a lot of heavy lifting when Zach's already walking through the receipts. Two incidents and a withdrawal freeze and they're still in the upgrades explanation.