Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Kucoin => Topic started by: Altcoin1998$ on February 15, 2021, 02:09:26 AM
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One of the biggest cryptocurrency thefts in history occurred last year. It involved the digital exchange KuCoin, which ultimately lost more than $275 million in total assets. Now, a new report has emerged blaming Lazarus – a North Korea-based hacking group – for the attack.
At the time of writing, it looks like KuCoin has managed to recover much of the lost money. The firm worked with “exchange and project partners” to gain approximately $222 million of the funds back, while its work with law enforcement agencies led it to recovering an additional $17.45 million.
However, this still led a massive chunk – more than $35 million – being left uncovered, and the exchange’s insurance was forced to cover these losses. In the end, while much of the stolen $275 million was ultimately returned, North Korea and Lazarus still managed to walk away with a solid profit.
More information:Read (https://www.livebitcoinnews.com/chainalysis-lazarus-is-to-blame-for-last-years-kucoin-crypto-theft/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)