KuCoin, the Singapore-based Digital asset trade said in a statement that it noticed huge withdrawals of Bitcoin (BTC) and Ethereum (ETH) token to an unknown wallet starting at 19:05 UTC, on Friday.
During a live stream at 4:30 UTC on Saturday, Johnny Lyu, the CEO of KuCoin said that one or more hackers acquired the secret keys to the trade’s hot wallets. While Lyu noted that the KuCoin’s cold wallets were not affected.
Cold digital money wallets are not associated with the Internet and are viewed as safer than hot digital currency wallets. In a refreshed statement on its site, KuCoin delivered a rundown of BTC, bitcoin SV (BSV), LTC, XRP, ETH, Stellar Lumens (XLM), Tether (USDT), and Tron (TRX) wallet tends to where the taken assets were stolen.
As per information from blockchain explorer Etherscan, Two Ethereum wallets having a place with KuCoin have sent more than 11,480 ETH, which right now exchanges at a cost of about $350, to the Ethereum wallet address related with the hack.
The Ethereum wallet address has likewise gotten more than 150 Ethereum-based tokens worth more than $150 million from the two KuCoin Ethereum wallets, Etherscan’s information shows. The digital currencies are exchanging around generally $10,700 per BTC, $45 per LTC, $0.25 per XRP, $0.07 per XLM, $165 per BSV, $0.02 per TRX, and $1 per USDT, as of composing.
As per the updated statement, tether and some other crypto trades such as Bitfinex have blacklisted the wallet addresses. However, within an hour on Saturday as the news of the security breach spread through social media, the value of KuCoin’s trade token KCS slide down over 14% to $0.86.
Meanwhile, as per the crypto data site, CoinGecko, almost 200 cryptocurrency assets exchange on KuCoin with a combined daily mean volume of nearly $100M.
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