Hackers Leak KuCoin Crypto Wallets Valued at $150 million

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Johnny Lyu, KuCoin Global CEO, announced yesterday in a statement about a confirmed hack recently. The report stated in specifics that after private keys connected to crypto wallets were leaked it may have affected the over $150 million in customer funds.

According to Nairametrics reports, Johnny had added that the results of the internal security audit report showed that part of Bitcoin, ERC-20, and other tokens in the hot wallets of KuCoin were moved from the crypto exchange, representing a few pieces of the overall holdings of properties.

 

 

 

 

 

 

 

“The assets in the cold wallets are safe and unharmed, and the hot wallets have been re-deployed,” he said.

Confirming the reports, an On-chain data/chart supplier for investors, Cryptoquant, has a shred of solid evidence suggesting that the crypto exchange might truly have been attacked.

It seems #Kucoin got hacked.

Usually, after being hacked, the $BTC outflow increases rapidly and then becomes zero. Since 20:00 UTC on September 25th, the outflow has continuously been zero.

Chart: https://t.co/kHsUEzh92C pic.twitter.com/qgycevVsnT

— CryptoQuant (@cryptoquant_com) September 26, 2020

Speaking further on the hack, Chief Technical Officer at Bitfinex and Tether, Paolo Ardoino, claimed that both Bitfinex and USDTether froze a total of $33 million.

He added that, if $150 million was stolen as a result of the hack, then 22% of their total asset were lost.

PSA: re #KuCoin hack@bitfinex froze 13M Tether USDt on EOS as part of the hack@Tether_to just froze 20M Tether USDt sitting on this Ethereum address https://t.co/GYmESH44da as precautionary measure.

Stay safe everyone!

— Paolo Ardoino (@paoloardoino) September 26, 2020