KuCoin Recovers 84% of Stolen Crypto
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Nov. 11, 2020

Cryptocurrency exchange KuCoin has recovered 84% (~$281 million) of cryptocurrencies that had been stolen from the exchange in September this year.

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According to KuCoin CEO, Johnny Lyu, the company has managed to recover the cryptocurrencies thanks to on-chain tracking, smart contract upgrade and judicial recovery. Lyu added the exchange will disclose all the details once the case is closed.

"KuCoin has resumed the full service of 176 tokens and all others are scheduled to be re-opened before November 22," he added.

As iHodl reported in October, the KuCoin cryptocurrency exchange succeded to identify bad actors that stole approximately $280 million in various cryptocurrencies. However, Lyu declined to clarify who exactly were responsible for the losses.

KuCoin Resumes Operations with Bitcoin, Ethereum and USDT

In September, KuCoin officially confirmed it had detected large withdrawals since September 26, 2020, at 03:05:37 (UTC+8).

According to the exchange, the hackers stole part of bitcoin (EXANTE: Bitcoin), ERC-20 and other tokens from KuCoin’s hot wallets.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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