KuCoinconfirmed that his Twitter account was hacked for 45 minutes and many of its users were defrauded.
Many crypto projects are struggling with hacks and identity theft. These backdoor events, which have been increasing lately, are benefiting from the increased adoption of cryptocurrencies.
The last hack took place on KuCoin. KuCoin’s social media account is about hackers for 45 minutes passed into his hands. Hackers sharing links from this account defrauded many KuCoin users. The exchange that accepts the events, He said he would recoup his losses.
KuCoin Will Reimburse Its Users
Cryptocurrency exchange KuCoincame up with a hacking incident while struggling with regulatory processes.
Anonymous hackers, KuCoin twitter They started identity theft by hacking his account. Links shared from the account were clicked quite often, as they seemed to come from the stock market. Many stock market users have lost their assets through these links.
Sharing on Twitter in the early hours of the morning, KuCoin announced that only his Twitter account was hacked and they took it back. In addition, the exchange admitted that many of its users suffered serious losses due to phishing scams. Moreover KuCoinstated that it will compensate its users who are defrauded with fraudulent activities.
1/ The @kucoincom handle was compromised for about 45 mins from 00:00 Apr 24 (UTC+2). A fake activity was posted and unfortunately led to asset losses for several users. KuCoin will fully reimburse all verified asset losses caused by the social media breach and the fake activity.
— KUCOIN (@kucoincom) April 24, 2023
The exchange identified 22 transactions that it suspects were behind the hack. It was announced that the accounts in these transactions had a total of 22,628 USDT and emerged as the place where user assets were transferred.
Carrying out all these processes in a transparent manner KuCoinstated that the investigation and research processes are continuing.
