KuCoin Twitter Account Hacked; Customers Undergo Asset Losses

• PeckShieldAlert reported that KuCoin’s Twitter account was hacked, and customers suffered asset losses.
• KuCoin took accountability for the breach and can reimburse losses for affected customers.
• The crypto change is implementing further safety measures to forestall future breaches.

PeckShieldAlert reported that the KuCoin Twitter account was hacked, and the fraudsters managed to steal roughly 8.7 ETH, valued at round $16,000, in addition to 0.235 BTC, value roughly $6,500.

KuCoin introduced earlier that their Twitter account was compromised for a period of round 45 minutes ranging from 00:00 on April 24 (UTC+2). Throughout this era, the hacker carried out fraudulent exercise, leading to losses of belongings for a number of customers. KuCoin has taken full accountability for the social media breach and the ensuing faux exercise. They’ve additionally dedicated to compensating affected customers for any verified losses they’ve incurred.

It’s value noting that solely KuCoin’s Twitter account was compromised throughout this incident. KuCoin responded promptly and took crucial steps to regain management of the account with the assistance of official Twitter help. It is very important emphasize that belongings on KuCoin’s platform stay safe and unaffected by the breach.

As of 02:00 on April 24, KuCoin has recognized 22 transactions involving ETH/BTC related to the fraudulent exercise, totaling 22,628 USDT. In an effort to stop additional hurt to customers, KuCoin is at the moment scrutinizing and blocking any suspicious addresses.

Furthermore, aside from Twitter’s present two-factor authentication (2FA), KuCoin’s group is implementing additional safety measures to strengthen the safety of their social media accounts. The group can also be working with Twitter to conduct a complete investigation of the incident and stop any future related occurrences.

KuCoin stated they might proceed offering updates on the investigation’s progress and suggested customers to chorus from opening any hyperlinks that impersonate their website.