KuCoin Identified Suspects of $ 280 Million Cyber Attack!
On Oct 06, 2020
Crypto exchange KuCoin found out who hacked the cryptocurrency exchange for $ 281 million. On October 3, CEO Johnny Lyu stated in his Twitter post that he has substantial evidence of the suspects of the cyber attack.
After a thorough investigation, we have found the suspects of the 9.26 KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved take action.
The attack on the exchange took place on September 26. On that day, the crypto community found out that an unknown wallet transferred large amounts of Bitcoin and Ethereum tokens. According to the initial calculations, the total value of the stolen amount was 150 million dollars. However, it soon became clear that the scale of the attack was much larger. As a result of the cyberattack, the cryptocurrency exchange KuCoin lost $ 281 million. After Coincheck and Mt.Gox, Singapore-based cryptocurrency exchange KuCoin made history as the third-largest crypto hacking incident.
204 Million Dollars Saved!
Lyu added that since October 1, KuCoin has managed to recover another $ 64 million worth of assets from suspicious addresses. CEO thanked all the exchanges in the blockchain for helping Kucoin resolve the security incident. By this, the total recovered funds reached $ 204 million. As a result, 72% of the total attacked amount is beyond the control of suspicious addresses.
The CEO of KuCoin also announced that the exchange is slowly starting to operate at full functionality.
“KuCoin is coming back to full functionality. My team and I will continue to do our best to offset the impact of the incident. As of now, a total of 31 tokens have opened for deposits and withdrawal services, and more tokens including BTC, ETH, and USDT will follow.”
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