KuCoin crypto exchange hacked: damage exceeds $ 150 million

The KuCoin cryptocurrency exchange has undergone a hacker attack, representatives of the site said on their official blog. Fraudsters managed to get hold of private keys from hot wallets. From two of them, more than 11,484 ETH were transferred to an unknown person, and specialists also managed to trace the transfer in other tokens for a total of $ 150 million. It is worth noting that the head of the trading platform, Johnny Liu, declined to name the exact amount of the stolen funds.

“We are investigating the cause of the incident and will keep you informed as soon as we receive confirmation of the information,” the site’s specialists note in an official statement and emphasize that all user losses will be fully covered by the KuCoin insurance fund.

To ensure the safety of users’ assets, the company intends to conduct a thorough security review. For this period, the possibility of deposits and withdrawals will be suspended. The platform will return to work after the full restoration of functionality, the platform management notes.