A popular cryptocurrency exchange KuCoinsuffered a breach on his Twitter account. This is about 8.7 ETH (about $ 16,000) and 0.235 from users. BTC (about $6,500).
The security incident occurred on April 24 and lasted about 45 minutes. During this time, fraudulent activities were published from the hacked @kucoincom account. The exchange assured users that it will fully reimburse all verified asset losses resulting from social media breach and fraudulent activity.
It is important to note that in this incident only KuCoin’s Twitter account was compromised and the platform took swift action to regain control of the account with the help of Twitter’s official support. KuCoin reiterated that users’ assets on the platform are safe.
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.
NEWS CONTINUES BELOW— KUCOIN (@kucoincom) April 24, 2023
Koinfinans.com As we have reported, as of 02:00 on April 24, related to fraudulent activity. ETH22 transactions containing /BTC with a total value of 22,628 USDT were detected. In order to prevent further users from being affected, KuCoin is currently investigating and blocking suspicious addresses linked to fraudulent activity.
The KuCoin team plans to implement additional protective measures alongside Twitter’s existing 2FA to further enhance the security of social media accounts. The exchange is also working closely with Twitter to conduct a thorough investigation into the incident in order to prevent similar incidents from happening in the future. KuCoin will continue to keep users informed about the progress of the investigation. In the meantime, users are advised to be careful and not open any links that impersonate the kucoin.com domain name to protect themselves. Also, users should be careful when interacting with official accounts of other exchanges on Twitter, as they too can become the target of hackers.