KuCoin Drops An Update About The Recent Hack

As you probably know by now, the crypto exchange KuCoin has recently reported a ‘security incident.’

This was a really big deal because the “incident” resulted in the loss of more than $150 million of various cryptocurrencies. Hot wallets of the popular platform have been compromised and knackered for at least $150 million worth of digital assets.

KuCoin loses about $200 million worth of digital assets

Now, it’s been revealed that KuCoin has lost almost $200 million worth of cryptos in Ethereum, Bitcoin, Litecoin, XRP, Bitcoin Satoshi Vision, Stellar, TRON, and Tether following the major security breach.

The crypto exchange made it public that they have started to learn about the event after they detected massive amounts of withdrawals back on September 26th.

KuCoin also made sure to confirm that the theft involves cryptos that have been kept in hot wallets and the ones that are being held in cold storage are all safe.

KuCoin Global CEO Johnny Lyu just offered an update on this whole situation and provided a list of addresses that were involved in suspicious transactions that have amounted to $190.9 million.

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Summary of the tokens that were stolen on KuCoin

Check out a summary of the tokens that were stolen on KuCoin as presented by the online publication the Daily Hodl.

“$152.7 million in Ethereum (ETH) and Ethereum-based tokens

$10.8 million in Bitcoin (1,008 BTC)

$4.4 million in XRP (18,495,798 XRP)

$1.2 million in Litecoin (26,733 LTC)

$2.4 million in Bitcoin SV (14,713 BSV)

$701,000 in Stellar (9,588,383 XLM)

$4.7 million in Tron (TRX) and Tron-based tokens

$14 million worth in Tether”

KuCoin also made sure to point to a private key leakage as being the reason for the outflow of the cryptos.

Now, it’s important to note that the exchange is working hard together with an international law enforcement in order to investigate the attack, according to Lyu.

“We are in contact with many major crypto exchanges such as Huobi, Binance, OKEx, BitMax, and Bybit, as well as blockchain projects, security agencies, and law enforcement to work on this. Some effective measures have been taken, and we will update with more details soon.”

Check out more details in the official update provided by the exchange.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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