• KuCoin, a crypto exchange platform, suffered a Twitter hack resulting in the loss of assets worth over 22,000 USDT for its users.
• KuCoin recovered its account and promised to reimburse affected customers.
• The platform also said it would boost security to prevent similar incidents from happening again.
KuCoin Suffers Twitter Hack
KuCoin became the latest victim of a Twitter hack, which resulted in the loss of assets worth over 22,000 USDT for its users. KuCoin’s Twitter account was briefly compromised, causing the platform’s users to lose over 22,000 USDT to hackers through fake activity.
Account Recovered and Security Improved
The crypto exchange was able to recover its account and promised to reimburse affected users. Following the incident, KuCoin promised to reimburse affected users while it is carrying out investigations and blocking suspicious addresses. The platform also said it would boost security to prevent a similar incident in the future.
Lost Assets Totaling 22,628 USDT
KuCoin revealed that hackers took over its Twitter account for 45 minutes to promote a fake activity on Monday, April 24th. While the incident was brief, the company said that it identified 22 transactions in connection with the fraudulent activity including ETH and BTC; with the value of losses totaling 22,628 USDT.
Only Twitter Account Compromised
The crypto exchange has since recovered its Twitter account but stressed that it was the only channel that was affected implying that their website and other social media accounts were safe.
Additional Security Measures Implemented
In addition to Twitter’s existing 2FA (two-factor authentication), KuCoin has implemented additional security measures like conducting thorough investigations with Twitter and fortifying protection of their social media accounts; all in an effort to prevent similar occurrences from happening again in future.