Tag: kucoin hack

Oct 03 2020

KuCoin CEO: We’ve Identified Suspects of the Hack, $204M Recovered

In summary: KuCoin CEO, Johnny Lyu, has informed the crypto-verse that they've identified suspects behind the recent hack He explained that KuCoin is working with authorities to apprehend the suspects Another additional $64 Million in digital assets is out of the control of the hackers This brings the total to $204 Million recovered or frozen The hackers had taken approximately $280 Million from...

Sep 27 2020

Ethereum Projects Continue to Freeze Tokens Affected by KuCoin Hack

Quick take: Multiple Ethereum based projects affected by the KuCoin have intervened Some have frozen their ERC20 tokens with others initiating hardforks The KuCoin hack amount has increased to $203 Million and could continue climbing Almost immediately after the KuCoin hack, the team at Tether announced that it had frozen a total of $33 Million USDT stolen from the exchange. Of this amount,...

Bitfinex CTO: Tether is Not Bitcoin (BTC), USDT is Centralized

In brief: Bitfinex and Tether CTO, Paolo Ardoino, has reiterated Tether is a centralized stablecoin This comes after crypto enthusiasts questions the decision to freeze $33M in USDT from the KuCoin hack Tether also froze $1M USDT on Omni and another $1M USDT on Tron The exchange had also rescued another $1M lost to a DeFi smart contract The CTO of both Bitfinex...

Sep 26 2020

Bitfinex and Tether Freeze $33M USDT from KuCoin Hack

Quick take: Bitfinex CTO, Paolo Ardoino, has notified crypto twitter of the freezing of $33M Tether related to the KuCoin hack Bitfinex has frozen $13 Million Tether (USDT) on EOS Tether has frozen $20 Million USDT on Ethereum Binance has pledged its support in the recovery efforts of funds from the hack KuCoin has offered a $100,000 reward for vital information related to...

KuCoin To Cover All User Losses From Recent $150M Crypto Hack

Quick take: KuCoin's risk management system detected unusual crypto withdrawal activity beginning today, 2:51 am (UTC +8) The exchange soon confirmed it was a hack KuCoin CEO, Johnny Lyu, confirmed KuCoin has an insurance fund to cover all losses $150 Million in Bitcoin, Ethereum and other ERC20 tokens was taken KuCoin is in constant communication with law enforcement and other crypto exchanges to...

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