KuCoin is back! – On September 25, 2020, KuCoin was the victim of a massive attack. Hackers managed to extract a total of $ 281 million worth of cryptocurrency from its hot wallets. Since then, the platform has led its counter-offensive, and has managed to recover a large part of the funds stolen, thanks to its partners in the cryptosphere.
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Already $ 204 million in cryptos recovered
It was the heist of the century at the end of September for KuCoin , several hot wallets of compromised crypto-assets were emptied by hackers, including more than 1,008 bitcoins (BTC), 26,733 litecoins (LTC), nearly 10 million stellar lumens (XLM), 18 million XRP , and most importantly $ 153 million in ethers (ETH) and various ERC20 tokens .
Despite the shock, the KuCoin teams were able to react quickly, in order to mitigate the effects of the attack.
By working in concert with the other exchange platforms and the teams of the crypto projects concerned, the CEO of KuCoin, Johnny Lyu , was able to announce that 204 million dollars of the 281 stolen had already been recovered.
The manager of the platform also said that the investigation to trace the perpetrators of the piracy was on track :
“After a thorough investigation, we have found the suspects responsible for the security incident on KuCoin, and we have substantial evidence on hand. Official authorities and police forces are fully involved to act accordingly ” .
KuCoin resumes normal operation
In the course of last week, KuCoin has announced that deposits and withdrawals of bitcoins , of ethers and USDT were again fully available on the platform.
According to the latest news, a total of 102 cryptocurrencies , all of the services of which have been completely reactivated . A few days after this large-scale hack, KuCoin worked to restore the full availability of the many crypto projects present on its platform.
For users, it should be noted that new wallet addresses have been set up for most projects. Even if it is still possible to use the old addresses, it is recommended to switch to the new ones as soon as possible, for obvious security reasons .