KuCoin, one of the famous cryptocurrency exchanges, announced that its Twitter account was seized for a while in the morning. Details of KuCoin’s Twitter hack, which issued a warning from Telegram and other social media platforms not to click on any link shared on Twitter, emerged. Details point to a loss of $22,000. Here are the details…
Recent developments in KuCoin hack: 22,000 USDT lost
As we reported as Kriptokoin.com, crypto exchange KuCoin announced that its Twitter account was hacked for about 45 minutes earlier today. Using KuCoin’s official Twitter account, the hacker shared a post with a link to a phishing site. The post alleged that a gift would be given to the person who clicked on the phishing link in question. The exchange identified 22 transactions where users lost money after interacting with the phishing site. According to the tweet, KuCoin users lost a total of 22,628 Tether (USDT).
The exchange promised to “fully refund all verified asset losses resulting from social media breach and fraudulent activity.” KuCoin also assured users that the attack was limited to their social media account and all funds on the exchange were safe. Amid the news of the hack, KuCoin’s native token KCS has dropped 1.37 percent in the past 24 hours. Currently, KCS is changing hands for around $8.
The exchange is launching a deep investigation into the attack
KuCoin said it is examining and blocking suspicious addresses to prevent further users from being affected. The exchange also launched an in-depth investigation into the Twitter hack. The recent attack also pushed KuCoin to strengthen the security practices of its social media accounts. KuCoin said it will implement additional security measures on all social media accounts, including the Twitter account that already uses two-factor authentication.
Hacking of official Twitter accounts to promote fake sweepstakes and airdrops has become increasingly common over the past few years. As is known, the Twitter account of Dante Disparte, Circle’s chief strategy officer and head of global policy, was hacked last month. The perpetrators claimed that a fake USDC airdrop was used to lure victims. Stock and crypto trading platform Robinhood’s Twitter account also faced a hack in January.
Hackers, who took over Robinhood’s Twitter account, introduced an unknown token in Robinhood’s account. So, while not a phishing attack, the trading platform’s Twitter account was breached for promoting an unauthorized token. Time will tell how KuCoin will handle this situation.
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