Today, KuCoin warned users not to click on dubious links in a Telegram statement after revealing that its official Twitter account had been hacked.
Following the Hack, KuCoin has Taken Back Control of the Twitter Account
On April 24 (UTC+2), around 00:00, the exchange‘s Twitter was hacked for roughly 45 minutes. Multiple persons experienced asset losses as a result of a counterfeit activity that was posted. According to the exchange, it will fully reimburse any verifiable asset losses brought on by the social network hack and fraudulent activity. The platform shared a series of tweets on its Twitter on the subject.
The Exchange Has Been Hacked Before!
The exchange previously disclosed a cyberattack that occurred in September 2020 and caused a loss of up to $289 million. To recover the majority of the stolen money, the KuCoin team collaborated with other market exchanges and project partners. The exchange recovered 78% of the money that was stolen during the event, or $222 million.
Will the KuCoin Team Take Action?
The exchange claims that in this case, only the exchange’s Twitter was taken over. Following the incident, the team moved swiftly to take back control of the account from Twitter support. The notification states that the exchange’s assets are secure.
The exchange has also discovered 22 ETH/BTC transactions worth a total of 22,628 USDT that are connected to counterfeit activities. The team is actively looking into and blocking questionable IP addresses in order to keep more people secure.
The exchange team will take further security precautions in the future to increase the safety of their social media accounts in order to prevent such incidents, in addition to Twitter’s current 2FA.
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