KuCoin CEO shared the latest updates on the hacking incident in the stock market. CEO Johnny Lyu said 84% of the stolen money was recovered. It was stated that approximately 236 million dollars of the 281 million dollars lost in the hacking attack were saved.
KuCoin CEO Johnny Lyu shared the latest developments about the hacking attack on the stock market. Johhny Lyu, in a series of tweets he shared on November 11, announced that 84% of the assets affected by the attack on KuCoin were recovered. This means a gain of about 236 million dollars, according to the report of Decrypt.
What happened in the KuCoin stock exchange?
On September 26, hackers attacked the KuCoin exchange and stole Bitcoin, Ethereum, and many other cryptocurrencies totaling $ 281 million. KuCoin CEO stated that efforts were made to recover crypto coins that were found to be stolen from hot wallets and shared the latest updates on Twitter.
Support came from the founder of the Tron Foundation for the exchange, which said that the losses of the users affected by the attack will be covered by the KuCoin insurance fund.
What did the KuCoin CEO say?
CEO Johhny Lyu said that they will release all the details of the incident after the case is over, referring to the 84% of the assets saved. He then stated that the KuCoin exchange continues to serve with 176 tokens, and all remaining cryptocurrencies will start trading again until November 22. Thanking everyone who helped KuCoin after the attack, the CEO said, “Together, we will create a stronger crypto community.”
Stating that they are happy to handle this event with openness and transparency and put the users first, Lyu stated that KuCoin will continue to protect its users in the future.
(1/3) Latest updates about #KuCoin Security Incident: So far, 84% of the affected assets have been recovered via approaches like on-chain tracking, contract upgrade and judicial recovery. As asked by the law enforcements, we will publish all the details once the case is closed.
— lyu_johnny (@lyu_johnny) November 11, 2020