KuCoin Twitter Accounts Hacked: False Activities and Asset Losses

04/24/2023 03:33 • Tech Trends • 78 views

On April 24th, KuCoin, a cryptocurrency exchange, tweeted that Twitter accounts had been attacked and embezzled for about 45 minutes since 06:00 Beijing time on April 24th, publishing false activities, resulting in asset losses for multiple users. KuCoin will fully compensate for all verified asset losses caused by social media leaks and fraudulent activities. KuCoin stated that only the Twitter account was hacked in this incident. After the incident, the team immediately took action and regained control of the account from the official Twitter support. As of 08:00 Beijing time on April 24th, the team has confirmed 22 transactions, including ETH/BTC related to fraudulent activities, with a total value of 22628 USD. In order to prevent more users from being harmed, the team is currently checking and blocking suspicious addresses.

KuCoin: Twitter account was stolen for approximately 45 minutes and full compensation will be given for all verified asset losses

Cryptocurrency Exchange Promises to Fully Compensate Users Affected by Social Media Leaks
On April 24th, KuCoin, a cryptocurrency exchange, announced that their Twitter accounts had been hacked and embezzled for about 45 minutes since 06:00 Beijing time that day. False activities were published, leading to asset losses for multiple users. KuCoin pledged to fully compensate for any verified asset losses caused by social media leaks and fraudulent activities.

What Happened on April 24th?

KuCoin, a Singapore-based cryptocurrency exchange, informed the public that unknown hackers had infiltrated their Twitter accounts and engaged in fraudulent activities, thereby resulting in losses for multiple users. The incident lasted for about 45 minutes, during which the hackers made false posts.

KuCoin’s Response to the Incident

KuCoin acted swiftly to regain control of their Twitter accounts and prevent further damage from the hackers. The exchange immediately published a tweet notifying users about the hack and fraudulently posted activities. They also pledged to fully compensate any verified losses from the incident.

Users Affected by Social Media Leaks and Fraudulent Activities

According to KuCoin’s statement, the fraudulent activities conducted through the hacked accounts involved twenty-two transactions, ETH/BTC related, with a total value of $22,628 USD. These fraudulent activities caused users to suffer asset losses, leading KuCoin to take responsibility for compensating any affected users.

Preventing Further User Harms

KuCoin is actively investigating the hack and working to identify and block suspicious addresses associated with the fraudulent activities. This action was taken to prevent any further loss of assets and protect their users.

Conclusion

KuCoin assures its users that they are doing everything possible to prevent similar incidents from happening in the future. The exchange also promises to remain transparent and forthcoming with any relevant information about the hack and compensation for the affected users.

FAQs

1. How exactly were KuCoin’s Twitter accounts hacked?

According to KuCoin’s statement, unknown hackers infiltrated their official Twitter accounts and made false posts leading to multiple asset losses.

2. Will KuCoin compensate all affected users by the hack?

KuCoin has pledged to fully compensate any verified asset losses resulting from social media leaks and fraudulent activities.

3. What is KuCoin doing to prevent further losses and protect their users?

KuCoin is currently investigating the hack, blocking suspicious addresses associated with the fraudulent activities and taking all necessary measures to improve cybersecurity and prevent similar incidents from occurring in the future.

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