KuCoin's Twitter Account Breached
In Brief
The Twitter account of cryptocurrency exchange KuCoin fell victim to a hack during the night of April 23-24.
The hacker maintained control over the account for about 45 minutes.
As a result of this breach, a total of 22,628 USDT was lost.
KuCoin has confirmed that its Twitter account was compromised. The hackers were in control of the social media account for around 45 minutes starting from midnight on April 24.
During the brief period of unauthorized access, the intruder published misleading posts, causing several users to suffer asset losses. The exchange has linked 22 transactions to this exploit, with several involving Ethereum and Bitcoin transactions. Based on their assessments, the organization reports a total loss of 22,628 USDT. KuCoin is now investigating and blocking any suspicious addresses connected to the incident.
In their Twitter response, the exchange reassured customers that they would be implementing additional security measures alongside the existing two-factor authentication. KuCoin also committed to fully compensating users for confirmed asset losses that arose from the breach of their social media account.
According to the announcement It’s important to note that only KuCoin’s Twitter account was affected; other social media platforms and accounts associated with the exchange remain safe and secure.
In a post on Twitter, the exchange stated, 'We immediately took action to regain control of the account with the help of official Twitter support after the incident. We want to ensure you that your assets held on KuCoin are safe,' post .
Based in Seychelles, KuCoin is a centralized cryptocurrency trading platform that serves over ten million users worldwide. It ranks among the top seven exchanges based on trading volume.
In August 2022, KuCoin launched An innovative NFT exchange-traded funds platform aimed at enhancing liquidity for non-fungible tokens has been launched.
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