Cryptocurrency Exchange KuCoin Likely Hacked: Reports

KuCoin, which touts itself as "the most advanced and secure cryptocurrency exchange to buy and sell Bitcoin, Ethereum, Litecoin, TRON, USDT, NEO, XRP, KCS, and more" apparently has been hacked.

Cryptoquant noticed that the Bitcoin on the Kucoin exchange left quite quickly and then went to zero. "Since 20:00 UTC on September 25th, the outflow has continuously been zero."

It seems #Kucoin got hacked.

Usually, after being hacked, the $BTC outflow increases rapidly and then becomes zero. Since 20:00 UTC on September 25th, the outflow has continuously been zero.

Chart: https://t.co/kHsUEzh92C pic.twitter.com/qgycevVsnT

— CryptoQuant (@cryptoquant_com) September 26, 2020

Telegram messages indicate that users should not withdraw or deposit funds at the moment, "given the situation." It claims that "transactions are simply pending."

KuCoin Telegram Admin recommends that no deposits or withdrawals should be initiated 'given the situation.'

What is the actual situation?? pic.twitter.com/aFDMZQa3zK

— beta.mycrypto.com (@MyCrypto) September 26, 2020

According to data from CoinMarketCap, KuCoin, based in Singapore is the 16th-most-popular crypto spot exchange when taking into account trading activity, traffic, and volume. It's responsible for $112 million in volume over the last 24 hours.

 

(This article will be updated as more information becomes available.)