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About $ 281 million worth of funds from an Asian cryptocurrency exchange were compromised due to a security breach.
Singapore-based digital asset exchange KuCoin said in a statement that it detected large withdrawals of bitcoin (BTC) and ethereum (ETH) tokens on an unknown wallet as of 19:05 UTC on Friday.
In a live stream at 4:30 UTC on Saturday, KuCoin CEO Johnny Lyu said that one or more hackers obtained the private keys of the exchange’s hot wallets. KuCoin transferred what’s left of them to hot new wallets, ditched old ones, and froze customer deposits and withdrawals, Lyu said.
KuCoin’s cold wallets were unaffected, Lyu said. Cold cryptocurrency wallets are not connected to the internet and are considered safer than hot cryptocurrency wallets.
In an updated statement on its website, KuCoin released a list of wallet addresses for BTC, bitcoin sv (BSV), ETH, litecoin (LTC), XRP, Stellar lumens (XLM), tron (TRX) and tether ( USDT) where the funds were stolen were transferred.
According to data from blockchain explorer Etherscan, two Ethereum wallets belonging to KuCoin have sent more than 11,480 ETH, which are currently trading at a price of around $ 350, to the address of the Ethereum wallet associated with the hack.
The Ethereum wallet address has also received over 150 Ethereum-based tokens worth over $ 150 million from the two KuCoin Ethereum wallets, Etherscan data shows.
The other identified wallets received exactly 14,713 BSV, 26,733 LTC, 18,495,798 XRP and 999,160 USDT, along with more than 2,015 BTC at three addresses (one, two and three), 9,588,383 XLM and 199,038,936 TRX, according to the explorers. blockchain Blockchair and Tronscan.
Cryptocurrencies are trading at approximately $ 10,700 for BTC, $ 165 for BSV, $ 45 for LTC, $ 0.25 for XRP, $ 0.07 for XLM, $ 0.02 for TRX and $ 1 for USDT at the time of writing.
Tether and several cryptocurrency assets and exchanges such as Bitfinex have blacklisted the wallet addresses, according to the updated statement.
Over 200 cryptocurrency assets are traded on KuCoin with a combined average daily volume of around $ 100 million, ranking it as one of the most active trading exchanges, according to cryptocurrency data site CoinGecko.
The price of KuCoin’s KCS exchange token fell 14% to $ 0.86 within an hour on Saturday as news of the security breach spread across social media.
KuCoin is investigating the hack with international law enforcement and the stolen customer money will be “fully covered” by an insurance fund, Lyu said in the livestream, although the exchange has since recovered about $ 204 million in stolen funds. , Lyu informed users in a Tweet on October 3.
UPDATE (27 September 2020, 1:00 UTC): Addresses and balances for cryptocurrency wallets associated with the KuCoin hack have been added.
UPDATE (October 8, 2020, 00:25 UTC): The amount of cryptocurrency stolen reflects two additional bitcoin wallet addresses and recovered assets
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