KuCoin

Token Projects Are Not Happy With KuCoin’s Handling of $280M Hack

The latest face-saving communique from Seychelles-domiciled crypto exchange KuCoin – hacked almost two months ago for over $280 million – is that 84% of the affected assets have been recovered. Some victims will be glad the situation seems to be moving towards resolution. Others, not so much. Leaving aside the conspiracy theories, death threats and alleged …

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75 crypto exchanges have closed down so far in 2020

As least 75 crypto exchanges have closed down due hacks, exit scams or simply disappeared for unknown reasons so far this year.  According to the Crypto Wisser Exchange Graveyard five of the exchanges, including Hotbit, FinexBox, and WCX, were labelled as scams, and four including Altsbit, and Nerae, were flagged as being hacked. In total …

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Kucoin CEO Says Exchange Hack Suspects ‘Found,’ $204 Million Recovered

According to the Kucoin exchange CEO Johnny Lyu, the trading platform has recovered $204 million in crypto assets since October 1. The exchange executive says the hacking suspects have been “found” and the “police are officially involved” in order to take action. On September 25, 2020, the crypto community found out that the Kucoin exchange …

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COVID-19, Trump, KuCoin, BitMEX: Bitcoin price says keep calm and carry on

Bitcoin (BTC) price appears on the verge of closing another week pinned below the $11,000 resistance but given the major events of the week, things could have been so much worse.  Cryptocurrency daily market performance snapshot. Source: Coin360 The top-ranked cryptocurrency by market cap held its ground as KuCoin revealed more than $150 million worth …

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What BitMEX scandal? Bitcoin futures data shows traders focused on $12K

BitMEX used to be the indisputable leader of Bitcoin (BTC) futures trading and if something similar to yesterday’s civil enforcement action were to happen back in 2015-2018 the crypto markets would have completely collapsed. Regardless of partial recovery to $10,600, which was relatively quick, derivatives markets held steady during the $500 drop down to $10,400. …

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Kucoin Hack: $17M Laundered Via Decentralized Exchanges, Blockchain Analysis Firm Claims This Can Still be Traced

Elliptic says the Kucoin hacker has sold $17.1 million worth of tokens via decentralized exchanges (dex) platforms like Uniswap, Kyber Network, Tokenlon. The shift to dex applications comes after centralized projects came to the aid of the beleaguered exchange by blocking any cashing out of the hack related funds. For the past few days, the …

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KuCoin hackers keep moving stolen tokens to the largest DeFi exchange

After a major hack at KuCoin cryptocurrency exchange, cybercriminals continue to move stolen crypto to decentralized exchanges, or DEXes. According to data from crypto transaction tracking service Whale Alert, KuCoin hackers keep sending thousands of dollars worth of Synthetix Network Token (SNX) to Uniswap — the largest decentralized finance (DeFi) protocol by total value locked. …

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Why traders are not worried that the KuCoin hack will drop Ethereum price

Analysts say that the unknown hacker behind the KuCoin breach is selling the stolen ERC-20 tokens on Uniswap. Although selling tokens on the Ethereum-based decentralized exchange allows the hacker to obtain Ether (ETH), it doesn’t mean it’s laundered. All transactions made on the Ethereum blockchain network are traceable using blockchain explorers, meaning even if the …

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Freeze, pause, reboot: Projects react differently to $200M KuCoin hack

Following news of a security breach resulting in the loss of more than $200 million worth of tokens on KuCoin, many projects quickly reacted to prevent users’ holdings from being moved off to other exchanges.  Speaking to Cointelegraph, KuCoin Global CEO Johnny Lyu said at least $129 million of the tokens affected in the breach …

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