Tuesday, September 29, 2020

Singapore's KuCoin Crypto Exchange Hacked/Robbed Of Over $150 Million

From CoinDesk:

Over $150M Drained in KuCoin Crypto Exchange Hack
Over $150 million of an Asian cryptocurrency exchange’s funds have been compromised in a security breach.

The Singapore-headquartered digital asset exchange KuCoin said in a statement it detected large withdrawals of bitcoin (BTC) and ethereum (ETH) tokens to an unknown wallet beginning at 19:05 UTC on Friday.
In a live stream on 4:30 UTC Saturday, KuCoin CEO Johnny Lyu said one or more hackers obtained the private keys to the exchange’s hot wallets. KuCoin transferred what was left in them to new hot wallets, abandoned the old ones and froze customer deposits and withdrawals, Lyu said.

KuCoin’s cold wallets were unaffected, Lyu claimed. Cold cryptocurrency wallets are not connected to the Internet and are considered more secure than hot cryptocurrency wallets. 

In an updated statement on its website, KuCoin released a list of BTC, bitcoin sv (BSV), ETH, litecoin (LTC), XRP, Stellar lumens (XLM), tron (TRX) and tether (USDT) wallet addresses where the stolen funds were transferred.
Two Ethereum wallets belonging to KuCoin have sent more than 11,480 ETH, which currently trades at a price of about $350, to the Ethereum wallet address associated with the hack, according to data from blockchain explorer Etherscan....