KuCoin CEO Alleges Hacking Suspects Identified

KuCoin CEO alleges hacking suspects identified. KuCoin has identified suspects and have now officially involved law enforcement in the investigation. On October 3, KuCoin CEO Johnny Lyu took to Twitter to announce that the exchange now has substantial proof that identifies who hacked the service on Sept. 26.

He added that as of Oct. 1, KuCoin has managed to wrestle another $64 million in assets from suspicious addresses with assistance of its partners in the industry. This brings the total value of recovered assets to $204 million.

The CEO added that the exchange is also slowly returning to full functionality and has reopened deposit and withdrawals for 31 tokens. Services for BTC, ETH, and USDT will follow.

The KuCoin hack is the first major case of a decentralized exchange being used to launder funds. It’s estimated that around $200 million in assets were stolen, but analysts fear more tokens could’ve been comprised.

 

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