KuCoin Reports Hack as $150M Funds Moved Out of Exchange

[Sharpmax]

KuCoin, one of the largest crypto exchanges, was hacked on September 26. The exchange has not revealed the exact information about this hack but it is specified that around $150 million funds have been moved out of the exchange in this hack. All the funds have been transferred to an...

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[Jaephoenix]

This is crazy. A huge exchange like Kucoin should have a good security outfit. And this is coming in a period where crypto is under scrutiny

[Sharpmax]

This is crazy. A huge exchange like Kucoin should have a good security outfit. And this is coming in a period where crypto is under scrutiny

How could it be possible guys? May be management team are responsible for hacking.

[LogiC]

I didnt expect it to happen on them. Come on they are one of the biggest exchange but still activity like this could still happened. If thats the case then some are probably withdrawing their funds from this site due to fear that some funds may loss. I know some of my friends that got affected by it. Too bad that the hackers are freely seizing money easily on the market.

[Galley]

This is crazy. A huge exchange like Kucoin should have a good security outfit. And this is coming in a period where crypto is under scrutiny

How could it be possible guys? May be management team are responsible for hacking.

The protection system was invented by people too.  And the fact that the hacking was done by super-professionals, and not pickpockets from the street, I think, is beyond doubt.  If the Pentagon was hacked, you think the exchange is harder to hack.  It all depends on the price and the possibility of punishment for it.

[trauchot]

Unfortunately, any cryptocurrency exchange can be hacked and hackers understand this and are constantly finding new ways to hack any cryptocurrency exchange. Well, I hope that kucoin exchange will reimburse the losses to all users whose money has been stolen.

[TomPluz]

This is another sad incident in the world of cryptocurrency which is really a big testament to the fact that there is no single outfit big or small in this hacking-infested industry can be truly safe. After what happened to Binance, this explosive news on Kucoin can be sending many fears among other players as anyone can be targeted. Now, for sure, if hackers are able to penetrate Binance and Kucoin so anybody can be on the table. Sadly, there is no fool-proof solution to this problem except maybe hiring the hackers instead and make them as your security experts.

[hair]

Unsurprisingly there are hackers on exchanges, however, exchange security systems have loopholes. Therefore, if you want to store large amounts of assets, always use a more secure personal wallet

[Duckenth]

This is bad news in the world of Cryptocurrency. We are concerne about this incident.  Even a large exchange like Kucoin can be hacked by hackers, What about our small accounts? 
I'm sure Kucoin is already protecting their exchange so that this doesn't happen, but maybe the hackers are smarter so Kucoin can be hacked into the security system.

[Astra]

This is crazy. A huge exchange like Kucoin should have a good security outfit. And this is coming in a period where crypto is under scrutiny

How could it be possible guys? May be management team are responsible for hacking.

The KuCoin administration assured that all victims will be reimbursed for their losses. So hopefully users won't get hurt.
Whatever the exchanges do, they will be hacked all the same. Cryptocurrency is now very attractive to hackers. And on the stock exchanges there is always plenty of it. Therefore, it is worth remembering that keeping your cryptocurrency on the exchange costs no longer than is necessary.

[Vladok]

I did not think that this, according to them, the most secure exchange can be hacked, it is certainly a big blow to their image, and most likely many will simply withdraw their assets from there.

[Jawahara]

KuCoin, one of the largest crypto exchanges, was hacked on September 26. The exchange has not revealed the exact information about this hack but it is specified that around $150 million funds have been moved out of the exchange in this hack. All the funds have been transferred to an...

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Fortunately the wallet in which the stolen USDT was sent has been frozen in order to prevent further  distribution of the fund. Quite unfortunate i must say, but i am confident Kucoin will get their security features upgraded ASAP.

[Black ID]

Even though so far I think Kucoin exchange is a fairly reliable market. Why is it still hacked? Such a good system can be hacked. Really scary. must be more selective in choosing exchangers.

[H2O]

It a very much sad news for cryptocurrency investors, holders and traders because kucoin a world famous centralised exchange which has more securities and popular but how can it be hacked. About $150 million funds have been moved to hackers account... Just a concern of worries.

[cheezcarls]

I have used KuCoin briefly a couple of years ago just to trade my tokens for BTC. Last year, I've only changed my password as I got no assets stored there. I felt bad for those people who got their funds compromised by the hacker in KuCoin, but good thing that they were insured. I no longer trust the fact that these CEXs are having the most advanced, safe and secured exchange ever. It's completely out of the game for me.