KuCoin Twitter Account Hacked; Users Suffer Asset Losses By CoinEdition

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KuCoin Twitter Account Hacked; Users Suffer Asset Losses

Published Apr 24, 2023 06:13AM ET Updated Apr 24, 2023 06:30AM ET

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KuCoin Twitter Account Hacked; Users Suffer Asset Losses

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PeckShieldAlert reported that KuCoin’s Twitter account was hacked, and users suffered asset losses.

KuCoin took responsibility for the breach and will reimburse losses for affected users.

The crypto exchange is implementing additional security measures to prevent future breaches.

PeckShieldAlert reported that the KuCoin Twitter account was hacked, and the fraudsters managed to steal approximately 8.7 ETH, valued at around $16,000, as well as 0.235 BTC, worth approximately $6,500.

#PeckShieldAlert #Phishing @kucoincom Twitter handle was compromised and the scammers grabbed ~8.7 $ETH (~$16K) and 0.235 $BTC (~$6.5K)https://t.co/79lUovNl4P https://t.co/Qu7AEyMBVQ pic.twitter.com/s8rL4D4sKX
— PeckShieldAlert (@PeckShieldAlert) April 24, 2023

KuCoin announced earlier that their Twitter account was compromised for a duration of around 45 minutes starting from 00:00 on April 24 (UTC+2). During this period, the hacker carried out fraudulent activity, resulting in losses of assets for multiple users. KuCoin has taken full responsibility for the social media breach and the resulting fake activity. They have also committed to compensating affected users for any verified losses they have incurred.

It is worth noting that only KuCoin’s Twitter account was compromised during this incident. KuCoin responded promptly and took necessary steps to regain control of the account with the help of official Twitter support. It is important to emphasize that assets on KuCoin’s platform remain secure and unaffected by the breach.

As of 02:00 on April 24, KuCoin has identified 22 transactions involving ETH/BTC associated with the fraudulent activity, totaling 22,628 USDT. In order to prevent further harm to users, KuCoin is currently scrutinizing and blocking any suspicious addresses.

Moreover, apart from Twitter’s existing two-factor authentication (2FA), KuCoin’s team is implementing further security measures to strengthen the protection of their social media accounts. The team is also working with Twitter to conduct a comprehensive investigation of the incident and prevent any future similar occurrences.

KuCoin said they would continue providing updates on the investigation’s progress and advised users to refrain from opening any links that impersonate their site.

The post KuCoin Twitter Account Hacked; Users Suffer Asset Losses appeared first on Coin Edition.

See original on CoinEdition

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KuCoin Twitter Account Hacked; Users Suffer Asset Losses

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