KuCoin customers lose over $22 000 due to the hacking of the exchange’s Twitter account

The platform’s representatives promised to reimburse all confirmed losses

24.04.2023 - 10:45

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What’s new? On the night of April 23-24, hackers took over the KuCoin crypto exchange’s Twitter account for 45 minutes. After access was restored, the platform team identified 22 transactions, including in BTC and ETH. The total amount of customer losses as a result of interaction with hackers amounted to 22 628 USDT. Representatives of the exchange promised to reimburse all confirmed losses caused by fake activity on the social network.

1/ The @kucoincom handle was compromised for about 45 mins from 00:00 Apr 24 (UTC+2). A fake activity was posted and unfortunately led to asset losses for several users. KuCoin will fully reimburse all verified asset losses caused by the social media breach and the fake activity. — KUCOIN (@kucoincom) April 24, 2023

What else is known? KuCoin is currently investigating and blocking suspicious addresses. The platform’s team assured that the incident did not affect the website or other social media accounts. It has pledged to improve security to prevent similar incidents in the future.

What is known about KuCoin? The centralized crypto exchange (CEX) was founded in September 2017 and is based in Seychelles. The CEO is Johnny Lyu. The daily trading volume is $543,6 million, according to CoinMarketCap.

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In January, hackers hacked the Twitter account of online broker Robinhood and posted a tweet advertising the launch of the scam token RBH on the BNB Chain via the PancakeSwap decentralized exchange (DEX). And in March, the account of Circle’s senior executive Dante Disparte was exploited. The attackers promoted a fake airdrop on his behalf.

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