• KuCoin’s Twitter account was hacked for 45 minutes, resulting in users losing $22,600.
• KuCoin has promised to reimburse all verified asset losses caused by the hack and the fake activity.
• KuCoin’s native token KCS is down 1.37% over the past 24 hours.
KuCoin’s Twitter Account Hacked
KuCoin’s Twitter account was compromised for about 45 minutes in the early hours of April 24th, with a malicious post for a giveaway with a link to a phishing site using KuCoin’s official Twitter account. The exchange identified 22 transactions where users lost funds after interacting with the phishing site, resulting in users losing a total of 22,628 Tether (USDT).
In response to the hack, KuCoin has promised to “fully reimburse all verified asset losses caused by the social media breach and the fake activity.” They also assured users that their funds on the exchange were safe and that the hack was limited to their social media account.
After news of this hack spread, KuCoin’s native token KCS is down 1.37% over the past 24 hours — trading at just over $8 at the time of writing — as per CryptoSlate data.
Protection Tips for Users
Users should be aware that phishing sites are common on cryptocurrency exchanges and can be dangerous if interacted with too hastily or without proper care taken when inputting personal information or funds into them. It is important to double check any links sent from an exchange and never interact with any suspicious sites or posts sent from unknown sources.
In conclusion, it is important for users to remain vigilant when using cryptocurrency exchanges and take measures to protect themselves against potential hacks such as these by double-checking all links before interacting with them or providing personal information or funds into them