KuCoin , the cryptocurrency exchange has announced that it has suffered a security breach which saw malicious hackers access its hot wallet and steal funds worth around US $5.6 million.
According to the official Twitter account of KuCoin, the exchange staff detected some large withdrawals since Sep 26 at 03:05 UTC+8. Some BTC, ERC-20 and other tokens in KuCoin’s hot wallets were transferred out of the exchange, which contained few parts of our total assets holdings.
KuCoin has not announced the exact value of the stolen funds, but according to blockchain tracker and analytics system, Whale Alert, around US $5.6 million worth of coins were transferred out of KuCoin’s Wallets.
Kucoin’s users on Telegram are reporting being blocked on withdraws.
Kucoin’s official coin “KCS” price dropped 10%-15%, following hacking news.
KuCoin is a Hong Kong based cryptocurrency exchange. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 5 million registered users from 200+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique visit ranks the top 5 globally.
According to the latest report from Chainalysis, last year was the worst year ever recorded… Read More
John Michael Musbach, a 31-year-old man from Haddonfield, NJ, has been charged with hiring a… Read More
Avraham Eisenberg, 27, from Puerto is accused of committing a $110 million cryptocurrency fraud according… Read More
Cryptocurrencies have became a popular subject in the recent years. In this post, we will… Read More
Ravencoin is a blockchain platform that was created in 2018 as a fork of the… Read More
Binance Smart Chain (BSC) is a blockchain network developed by Binance, one of the largest… Read More