Some newly compiled data indicates that hackers who recently hacked into hot KuCoin wallets may have earned more than the $150 million that came in the KuCoin initial report.

But looking at the latest numbers, the KuCoin hack is the third largest in crypto history, with nearly $280 million stolen.

KuCoin hacked and stolen $280 million:

In the past few days, we have been referring to the KuCoin hack event, and how hackers have taken advantage of KuCoin’s hot wallets to trade cryptocurrency.

Then the platform issued an official statement stating that the total amount stolen was estimated at 150 million dollars in various digital currencies.

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The statement also said that KuCoin will compensate those affected by the hack from its insurance fund.

However, the amount stolen appears to be much higher than what KuCoin published. according to According to cryptocurrency researcher Larry Cermak, and by examining wallets that are highly likely to be linked to the KuCoin hack, the amount stolen was estimated at about $280 million, instead of $150 million.

He also told Larry that some cryptocurrencies had been frozen, split and blacklisted, but the numbers she told KuCoin did not reflect this.

Consequently, Larry questioned KuCoin’s ability to cover stolen funds from its insurance fund.

Larry Cermak offered a list of cryptocurrencies that could potentially have been recovered such as:

Velo Coin ($76M), Tether ($22M), Orion ($10M), KardiaChain ($10M), Ocean Protocol ($9M), VIDT Datalink ($7M) ), NOIA Network ($5 million), and Covesting Coin ($600,000).

Which equates to about 50% of all stolen funds.

Was this hack the third largest crypto hack ever?

If Larry Cermak’s data is accurate, the KuCoin hack is the third largest in the cryptocurrency space to date.

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The biggest previous hack came in early January 2018, when the victim was Japanese cryptocurrency exchange Coincheck.

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$535 million of NEM coins were stolen as well as some other cryptocurrencies, and interestingly, all the stolen funds were twice seized from the hot platform’s wallets.

As for the largest hack in the history of crypto at all, it goes back to hacking the MT.GOX platform in early 2014, as the hack led to the closure of the platform and the declaration of bankruptcy, as about 850,000 bitcoins were stolen, an estimated value in 2014 of 460 million dollars, but at today’s prices, the amount stolen is estimated Almost worth $5 billion.

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