HomesecurityKuCoin: Infringement on the platform affected $ 150 million in cryptocurrency

KuCoin: Infringement on the platform affected $ 150 million in cryptocurrency

On September 26, platform digital currency KuCoin, he said a infringement which affected Bitcoin, Ether and ERC20 hot wallets. However, the prices of these digital currencies have not been affected.

KuCoin

The CEO of KuCoin Global, Johnny Lyu, made an official announcement, confirming that a serious one attack held against the platform on September 26, after leakage private keys. The breach affected the company's Bitcoin (BTC), Ether (ETH) and ERC20 hot wallets. The breach is estimated to have had an impact of $ 150 million, all user funds.

The price of Bitcoin, however, did not change after the announcement of the violation. Similarly, other large cryptocurrencies, such as Ether, also remained relatively unaffected by the attack.

Historically, a digital currency breach has often led to falling prices for fear that malicious agents can sell the revenue.

This time, however, the Tether (USDT) moved quickly and suspended the transfer of assets related to the breach of security. Other important currencies, including Bitfinex, the data related to the violation have also been frozen.

Immediate response from Tether and other top currencies could prevent most of the money being transferred from hacker.

According to Paolo Ardoino, the chief technical officer of Bitfinex and Tether, the two entities froze a total of $ 33 million, as suggested by KuCoin.

About $ 150 million appears to have been affected by the attack, which accounts for 22% of the lost funds.

According to Lyu in his official statement, KuCoin is now in contact with them Huobi, Binance, OKEx, BitMax and Bybit. In addition, the company is working with the authorities to resolve the issue.

With the measures taken so far, it will be difficult for a hacker to commit a breach in the near future. Of the funds affected, only a small amount is in Bitcoin. Most money is reportedly stored in ERC 20 token.

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