According to the WuBlockchain report, KuCoin cryptocurrency exchange has established a new Bitcoin mining pool. By establishing a Bitcoin mining pool, 60,000 BTC have entered the Bitcoin mining market and will be able to provide large hashrate volumes—which are currently lacking after the recent Chinese Bitcoin mining ban.
The Kucoin exchange has operated since September 2017 out of the Seychelles. KuCoin provides exchange services globally and tries to establish secure and efficient trading and payment services.
Back in September 2020, hackers stole more than $275 million funds from the exchange, which included more than 1,000 BTC and 11,000 ETH. To date, the KuCoin hack remains one of the largest hacks in the industry's history.