https://www.kucoin.com/news/en-kucoin-security-incident-update Dear KuCoin Users, We detected some large withdrawals since September 26, 2020 at 03:05:37 (UTC+8). According to the latest internal security audit report, part of Bitcoin, ERC-20 and other tokens in KuCoin’s hot wallets were transferred out of the exchange, which contained few parts of our total assets holdings. The assets in our cold wallets are safe and unharmed, and hot wallets have been re-deployed. We are locating the reason for the incident, and will keep you updated once it is confirmed. Please rest assured that if any user fund is affected by this incident, it will be covered completely by KuCoin and our insurance fund. To ensure the security of users’ assets, we will conduct a thorough security review. The deposit and withdrawal service will be suspended during the period. We will restore the service gradually after ensuring a safe state. We will keep you updated. As "The People’s Exchange", we will take full responsibility and maintain transparency. To keep you updated regarding the latest updates, our CEO Johnny Lyu will update more details through a livestream at 12:30 (UTC+8), September 26, 2020. Please submit your questions here if you have any. We greatly appreciate your understanding and support. The KuCoin Team
I wonder why the hackers decided Kucoin? I know most US crypto exchanges don't offer the cold wallet option. Good to know the funds will be reimbursed though
$150 Million+ Recovery process begins... https://thedailychain.com/crypto-in...ds-from-kucoin-hack-exchange-to-cover-losses/
Now $200 million stolen $129 million recovered https://cointelegraph.com/news/freeze-pause-reboot-projects-react-differently-to-200m-kucoin-hack
Well, they keep saying everyone will be made whole. We'll see. "Stolen cryptocurrency holdings included bitcoin, bitcoin SV, Ethereum, Litecoin, XRP, Stellar Lumens, Tron, Tether and Ocean. Exactly how the attack took place has not yet been detailed, though KuCoin Chief Executive Officer Johnny Lyu hosted a livestream on Saturday providing more details about the incident, including that cold wallets, those not connected to the internet, were safe and had not been affected. For users of KuCoin, the most important takeaway is that Lyu committed to KuCoin and its insurance fund covering any funds stolen from customers."