Of the $ 200 million worth of crypto money stolen from the crypto currency exchange KuCoin, $ 130 million has already been rendered unusable.
There are new developments in the hacking of the major crypto currency exchange KuCoin on Friday. The data shared by the exchange reveal that approximately $ 203 million of crypto money was lost due to the attack. However, many crypto money projects have frozen up to 65 percent of the amount lost, according to data shared by KuCoin.
The cryptocurrency industry, Coincheck and Mt. It shows strong solidarity in the attack, which went down in history as the third biggest hacking incident after the Gox incidents. Cryptocurrency exchanges and Blockchain projects have rendered a significant portion of the stolen cryptocurrencies unusable to keep damage to a minimum.
According to Decrypt’s compilation, Orion Protocol updated its smart contract to override stolen tokens worth $ 8.5 million. On the other hand, while Covesting freezes $ 520,000 in assets, KardiaChain made $ 9 million worth of tokens unusable.
Not just these. Cryptocurrency company Velo Labs announced that it will invalidate all of the 122 million VELO tokens, worth about $ 76 million, that hackers received in the attack. VIDT Datalink will freeze 14 million VIDTs, worth about $ 6.4 million. SlientNotary will swap all of its tokens, including the $ 94,692 tokens associated with the event, and Ocean Protocol ceased its smart contract after a loss of $ 8.6 million.
Tether, which issued a stable cryptocurrency backed by the US dollar at a ratio of 1: 1, has frozen USDT worth $ 22 million.
The KuCoin hacker started to move some of the assets it seized yesterday to different addresses. He transferred some of it to Uniswap. The hacker was able to transfer hundreds of thousands of OCEAN tokens to this exchange and exchange a small portion for ETH. However, the OCEAN team moved quickly and stopped its smart contract. A small amount of UTK was also transferred to Uniswap from hacker-related wallets.