Cryptocurrency exchange KuCoin recovers $236 million worth of stolen cryptocurrency
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Answer Cryptocurrency exchange KuCoin recovers $236 million worth of stolen cryptocurrency
We previously covered the KuCoin hack that led to the theft of $281 million in cryptocurrency in September.
The KuCoin trading platform has recovered 84% of the stolen amount, which means that $236 million has been recovered.
Johnny Liu, CEO of KuCoin, said through a tweet posted it Yesterday, it said:
So far, 84% of stolen coins have been recovered through blockchain tracking, contract upgrade, and judicial recovery methods.
As per the request of the legal authorities we will publish all the details as soon as the case is closed.
(1/3) Latest updates about #KuCoin Security Incident: To date, 84% of affected assets have been recovered through methods such as on-chain tracking, contract upgrades, and judicial recovery. At the request of law enforcement, we will publish all details as soon as the case is closed.
Read:A few days after the theft, the dForce project succeeded in recovering $25 million in cryptocurrency
– lyu_johnny (@lyu_johnny) November 11, 2020
He added:
KuCoin has resumed full services for more than 176 coins, and all other cryptocurrencies are scheduled to reopen before November 22.
Once again, I would like to thank all the individuals and organizations who helped us with this incident, together we will make a stronger crypto community.
As we mentioned in previous articles, the KuCoin hack happened on September 26, and according to KuCoin, the hackers used a leaked private key to access the platform’s wallets.
KuCoin stated that it has sufficient funds in its reserve account to cover all its losses.
KuCoin previously said it knows who stole the money and is working with the police to investigate the perpetrators.
At the time, KuCoin said that 72% of funds were out of control of suspicious addresses being tracked, with around $13 million being swapped into decentralized exchanges and so the coins got out of control and tracked.
Read:Learn about…behavior of institutional investors in light of the heavy selling in the crypto market!
And now it looks like KuCoin has made more money back.
Read also:
The KuCoin hack is the third largest hack in crypto history after estimates emerged of the total amount stolen
A security expert prevents the theft of 10 million dollars of Ethereum… Details here
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