New Development in 280 Million Impact


Johnny Lyu, CEO of the crypto currency exchange KuCoin, announced on Twitter yesterday that the suspects responsible for the $ 281 million stock market hacking were caught as a result of a “comprehensive investigation”. KuCoin claimed to detect cyberattack suspects, but a security expert confused them by saying the incident was carried out by someone inside the exchange.

“After a thorough investigation, we found important evidence of the KuCoin cyberattack on September 26, 2020. Law enforcement and police then took immediate action. ”

In another tweet he posted on his Twitter account, Lyu stated that the exchange was subjected to a massive security breach just over a week ago and will soon return to “full functionality”.

A New Mt. Gox Case?

On September 25, KuCoin, a major cryptocurrency exchange headquartered in Singapore, confirmed that Bitcoin and many ERC-20 tokens were transferred from the exchange’s hot wallet.

Initially close to $ 150 million worth of cryptocurrencies from the struggling exchange
reported to be spent. Other estimates showed that the netting was much larger, exceeding $ 280 million.

An Insider Attack?

Meanwhile, Hudson Rock CTO Alan Gal claimed that this attack was carried out by a person or persons inside the stock market and said:

“I bet this was from inside, or it wouldn’t take that long to find clues and bring out suspects. However, if someone on the inside sets up a bench, it may delay the resolution of the case a little. ”

Cyber ​​security expert, hackers can use the stolen cryptocurrency without using VPN.
He says he doesn’t believe he can justify it on DEXs.


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