KuCoin

KuCoin detects suspects in stealing $ 275 million. They may be exchange employees

The KuCoin cryptocurrency exchange has made significant progress in investigating the hacking of its wallets on last week.

As KuCoin CEO Johnny Liu said today on Twitter, they managed to find suspects in the attack. “We have strong evidence. Law enforcement officers are involved, “he wrote..

Liu also said that thanks to the help of partners, it was possible to secure another $ 64 million that ended up on the addresses of the attackers. As a result, the damage from the attack was reduced by $ 204 million.

“KuCoin is returning to full operational mode. My team and I will continue to do my best to mitigate the impact of this incident. A total of present moment input and output of 31 tokens was resumed This list is expected to be expanded to include BTC, ETH and USDT, ”he writes..

According to Davy Wang, partner at Primitive Ventures, Liu’s statement suggests that the exchange’s own employees may be involved in the hack..

Analyst firm Chainalysis, meanwhile, reports that attackers have taken advantage of centralized exchanges. for purchase and withdrawal of approximately 875 bitcoins ($ 9.2 million). According to her, the total damage from the attack was $ 275 million..

KuCoin has identified suspects in the theft of $ 275 million. They may be exchange employees The KuCoin cryptocurrency exchange made significant progress in investigating the hacking of its wallets last week.

Decentralized exchanges have become the main channel for the withdrawal of criminal assets. “In this case, the hackers used the Uniswap and Kyber platforms, both of which are decentralized exchanges (DEX). DEXs allow users to buy, sell and exchange various tokens on a specific blockchain directly between wallets with higher security and privacy. Since these platforms do not accept user assets for storage, users can swap without providing identification information, as is the case with standard cryptocurrency exchanges, ”adds Chainalysis.

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