Quick overview
Kuna launched in 2016 as the first Ukrainian crypto exchange, quickly becoming a hub for BTC/UAH and other fiat pairs. It grew to 500k+ users but faced legal shutdown in early 2025 after tax investigations.
What it offered
- 30+ spot pairs including BTC/UAH, ETH/UAH, USDT/UAH.
- Flat 0.25% trade fee with reduced maker fees for VIPs holding 100+ KUN tokens.
- Direct UAH deposits via cards and Kuna Code, plus USD/RUB options.
- Claimed 100% reserve backing (no updated audits available).
Volume and activity now
Today Kuna’s 24h volume is consistently $0, with no active markets. Before the shutdown, it saw up to $3.7 million in daily trades. Now, it’s dormant as users withdrew funds following the court block.
Security and trust factors
Historically, Kuna highlighted cold wallet reserves and won design awards. But tax evasion probes and lack of fresh audits eroded trust. The shutdown left many cautious about future operations.
Pros and cons
- Pros: Strong UAH support for Ukrainians, low fees, sleek UI, historic market pioneer in the region.
- Cons: Completely inactive, tied up in legal issues, no proof-of-reserves updates, mixed user reviews.
Who might have used Kuna
- Ukrainian traders needing fiat ramps tied to local banks.
- Retail users drawn to its unique KUN incentives and easy card deposits.
Who should avoid it now
- Anyone looking for an active platform - Kuna is fully shut down.
- Traders wanting operational security, audit transparency, or global reach.
Verdict
Kuna once defined Ukraine’s crypto scene with fiat rails and community-driven design. But tax problems halted everything, leaving it a historical footnote with zero volume and locked doors. It's no longer a trading venue, just a closed chapter in regional crypto history.