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Cryptocurrency exchange KuCoin claims to be able to identify suspects in a recent hacking platforms and stealing about $ 280 million.
“After a thorough investigation, we have found suspects in the September 26 incident and have substantial evidence of their involvement. Law enforcement officials and the police are involved in further steps, ”said Johnny Liu, CEO of KuCoin.
A quick update since my last livestream on Sep 30.
After a thorough investigation, we have found the suspects of the 9.26 #KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take action.
– lyu_johnny (@lyu_johnny) October 3, 2020
He added that with the help of partners, the exchange managed to secure an additional $ 64 million, which were on the addresses of the attackers. The damage from the attack is now estimated at $ 204 million.
According to Liu, KuCoin is returning to full operation. Over the past 24 hours, the exchange resumed depositing and withdrawing 31 tokens. BTC, ETH and USDT are expected to join this list soon.
Primitive Ventures partner Davi Wan suggested that according to Liu’s statement, exchange employees may be involved in the hacking.
“We have found the suspects” hmmm so it’s likely a group of insiders again? https://t.co/Cawj3AFBim
— Dovey serving people with virtue Wan ???????? (@DoveyWan) October 3, 2020
We will remind, earlier representatives of KuCoin statedthat in the near future the exchange will fully reimburse the losses to users who have suffered from the hacking. To this end, KuCoin uses funds from an insurance fund that it created in 2018 to protect traders’ funds.
Initially, the damage from the KuCoin hack was estimated at $ 150. Later, The Block analyst Larry Cermak suggestedthat an unknown hacker stole almost double the funds. However, he doubted that KuCoin would actually be able to cover the stolen funds with an insurance fund.
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