Biggest Crypto Exchange Hacked For $280 Million | How To Protect Yourself

[LogiC]

the simplest way is not to store too many assets in exchange. Because no matter how sophisticated the exchange system is, it is definitely very risky. Better to store assets in a wallet and give keys. In addition, we must always be careful when sending tokens.

Actually putting up balance on exchange is bit scary cause incident like these could happened anytime. There are past history of exchange hacked and we cant always be sure that its safe. Having own wallet for our asset is one way to secure it. Or at least have some ledger that supported coins you own.

[KKH84]

The most important thing in my opinion is how to restore the trust of its members so that the public will judge that Kucoin is a responsible exchange.  So that they will not hesitate to put their digital assets and make transactions there.

[gourav787]

I also heard about it , this is really didn't good things happen in Crypto market . But this is officaly announced by Kucoin team That they will return full amount to their user . Hopefully everyone got their fund back.

[FOPL]

I got affected because I was swing trading lukso. This is a wake up call for all especially newbies who just buy and hold. It recommended to go for non-custodial wallet which gives you full control of your funds. I personally use Atomic Wallet and it has an inbuilt exchange which I use more often. You can swap top cryptos convenient, so no need to even use exchanges.

[Rain075]

I also heard about it , this is really didn't good things happen in Crypto market . But this is officaly announced by Kucoin team That they will return full amount to their user . Hopefully everyone got their fund back.

Yes brother kucoin already refunded hacked amounts to investors, traders and holding in Kucoin users.

[Thymoty]

Crypto is a very good platform for exchanging but as the demand for crypto increases so does the number of scammers you are right that we should all try to deal with it and at the same time try to maintain a well-checked and safe currency. Stay away from hacked exchange sites.

Yes, you are right. However, no matter how strong the crypto exchange platform is, it is man-made that can be hacked. The point is to choose a trustworthy trading platform that compensates the user for their wallet being hacked. For example, like KuCoin, they return the wallet value of the affected user to the original value before being hacked.

[kent47400]

But this is officaly announced by Kucoin team That they will return full amount to their user .

Hey are you not aware of what happened?
Is this a drama going on or is it really true?

KuCoin lost a lot of money and it was stolen by hackers easily.
Then it's also easy if KuCoin will return money to its members easily too even though the value is very large.
Don't you feel that you experience the irregularities of this case?

[Crypto Guard]

This is really bad news. Where do we know that the Kucoin exchange is one of the mainstay exchanges. and now it can be hacked. This should remind us to be vigilant and to be more careful. Don't keep multiple assets in exchange.

[Thymoty]

I also heard about it , this is really didn't good things happen in Crypto market . But this is officaly announced by Kucoin team That they will return full amount to their user . Hopefully everyone got their fund back.

Yes. The KuCoin team will return the balance from the affected account to the original balance before the incident occured. So in my opinion, what KuCoin did is very good and professional. They have proven that they're the profesional crypto exchange.

[Paglamon]

The kucoin hack happened, I already found out a few days ago. All the dollars were returned. However, the kucoin exchange has suffered some losses. Users were not harmed and all tokens or coins were returned. I think for this reason kucoin's reputation has declined. There is a lot of discussion about that too. $280 - $285M hack.

[edmundo]

This further stresses the need to maintain top level security in this space and be on guard at all times. The crypto industry is full of unscrupulous elements always trying to defraud and take advantage of every situation. Always ensure to use authentication on all accounts, learn to keep your login details safe and never share private keys with third parties. Your security is in your own hands and you must be vigilant at all times.

[nelson4lov]

It's a good thing kucoin agreed to refund all users who lost their funds due to the hack. Thanks to the funds they set aside for insurance purposes. Last time I checked, The hacker has liquidated majority of the funds albeit the ones that some projects like Tether freezed.

The Kucoin hack is just another friendly reminder that if it's not your keys, it's not your crypto. It might not be kucoin next time. Victims of cryptopia exchange wasn't compensated till date.