KuCoin CEO: We've Identified Suspects of the Hack, $204M Recovered 16

KuCoin CEO: We’ve Identified Suspects of the Hack, $204M Recovered

In summary:

  • KuCoin CEO, Johnny Lyu, has informed the crypto-verse that they’ve identified suspects behind the recent hack
  • He explained that KuCoin is working with authorities to apprehend the suspects
  • Another additional $64 Million in digital assets is out of the control of the hackers
  • This brings the total to $204 Million recovered or frozen
  • The hackers had taken approximately $280 Million from KuCoin

The CEO of KuCoin, Johnny Lyu, has updated via Twitter regarding the progress of identifying the hackers behind the September 26th hack. In his update, Mr. Iyu explained that the team at KuCoin had identified those behind the malicious attack and they were working law enforcement to take additional legal action.

A quick update since my last livestream on Sep 30.

After a thorough investigation, we have found the suspects of the 9.26 #KuCoin Security Incident with substantial proof at hand.

Law enforcement officials and police are officially involved to take action.

An Additional $64 Million Out of the Hands of the Hackers

Mr. Lyu added that another $64 Million in digital assets from the hack was out of the control of the hackers thanks to efforts from KuCoin partners in the crypto industry.

With great support from our partners of the industry, another $64 million in assets are now out of the control of the suspicious addresses, bringing the total value to $204 million since Oct 1.

This means that out of an estimated $280 Million in digital assets taken from KuCoin, $74 Million is what the hackers have either laundered via decentralized and centralized exchanges and/or are still in their control.

KuCoin Thanks All Who Provided Support After the Hack

Mr. Lyu further thanked all institutions, exchanges and individuals who acted fast and provided support during the difficult time after the hack.

A big thank you to all the institutions & individuals who are supporting us during the critical time.

I believe that, #together, we will build a #stronger crypto world.

KuCoin is Back to Full Functionality

In his conclusion, the CEO of KuCoin notified crypto traders that the exchange was now back to full functionality with deposits and withdrawals now available for 31 digital assets including Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).

KuCoin is coming back to fully functionality. My team and I will continue to do our best to offset the impact of the incident. As of now, a total of 31 tokens have opened deposit & withdrawal services, and more tokens including $BTC, $ETH and $USDT will follow.