Johnny Lyu, CEO of leading cryptocurrency exchange KuCoin, which recently hit headlines after suffering a hacker attack in September last year that resulted in the loss of $285M, has just said that 100% of the funds have been recovered.
In an open letter for the community, Lyu says that $222M (78% of the stolen funds) has been recovered thanks to the cooperation with exchange and project partners, while another $17.45M (6%) has been recovered as a result of the cooperation with law enforcement and security institutions.
As for the remaining $45.55M (16%), it has been covered by KuCoin and its insurance.
As a result, KuCoin has "ensured that no users sustained any loss in this incident, and has since greatly strengthened its security level."
The exchange CEO has also reflected on the stunning growth of the platform over the past year. In particular, he said:
"In 2020, our margin trading volume increased 217% year on year and has supported 33 tokens and 54 trading pairs. Since the start of the year, KuCoin Futures have achieved a stunningly rapid 420% increase in trading volume and a remarkable 670% growth in user numbers. It now supports 17 coins, including USDT-Margined and Coin-Margined Contracts, and Perpetual Futures and Quarterly Delivery Futures."
Regarding the future, Lyu revealed KuCoin will add support for the upcoming Polkadot parachain slots auction, enabling users to participate in the expanding Polkadot ecosystem.
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