KuCoin hacked: 150m send to unknown wallet

Investors in KuCoin are stating that KuCoin has been hacked, the investors noticed a big transaction of 150million dollars in KuCoin being send to an unknown wallet.

What is KuCoin

KuCoin is a crypto-trading platform which also has their own coin called KuCoin.

The wallet

The money has been send to the following wallet, which you can track via the link below:

https://etherscan.io/address/0xeB31973E0FeBF3e3D7058234a5eBbAe1aB4B8c23

CryptoQuant states that

Usually, after being hacked, the BTC outflow increases rapidly and then becomes zero. Since 20:00 UTC on September 25th, the outflow has continuously been zero.

KuCoin

The administrators behind KuCoin claim that they will come with a statement soon, as users have been locked out of their KuCoin wallets and are unable to perform any transactions.

Admin messages

KuCoin admin states that the withdrawal and deposit service is closed
No clear timeframe on when the announcement will come
If your money is lost, you will be compensated with
Don’t perform transaction
If you lose, we will compensate
Telegram channel is getting flooded
Admin warning against flood messages in Telegram channel
Announcement will be published soon
Security Incident Update

Locations where they usually posts statements

https://www.kucoin.com/news

Telegram channel

https://t.me/Kucoin_Exchange

Location where you can find their change logs

https://www.kucoin.com/news/categories/change-log

Are the funds backed in case of a hack?

https://www.kucoin.com/news/en-kucoin-partners-with-onchain-custodian-to-get-its-funds-backed-by-insurance

Security incident announcement by KuCoin

https://www.kucoin.com/news/en-kucoin-security-incident-update

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