Kucoin’s exchange hacked and stole $ 200 million

KUCOIN Cryptovaya Exchange recorded several large unauthorized translations of digital assets from their hot wallet to unknown addresses.

In the official announcement, the platform does not specify the amount of losses, but recent studies have shown that hackers stole up to $ 200 million (initial assessments assumed $ 150 million).

According to the Director General of Kucoin Global Johnny Liu, during the attack, wallets were affected, which were kept bitcoins, ether and tokens ERC20. Most of them were «safe», so with the assistance of cryptoprojects of the exchange will be able to restore the tokens about 129 million. The company also appealed to other trading platforms with a request to make compromised addresses of scammers into the blacklist.

Johnny Liu also said that all user losses from hacking will be compensated at the expense of the insurance fund, and the Exchange will fully resume work within a week.

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