Bitcoin exchange rate ignored the theft of $ 150 million from KuCoin

CONTENT

  • Bitcoin almost ignored the theft of $ 150 million from the KuCoin exchange

  • Native KuCoin Shares token plummets 14%

  • The official readings of KuCoin with the real picture of what happened are somewhat different

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Bitcoin almost did not react to a major hack of the KuCoin cryptocurrency exchange, which, according to preliminary reports, lost $ 150 million in cryptocurrencies

The bitcoin rate remained almost unchanged despite the news that hackers had hacked the KuCoin cryptocurrency exchange and withdrawn bitcoins, as well as ERC-20 tokens for a total amount of over $ 150 million. At the time of writing, bitcoin is trading at $ 10,699 (+ 0.9%).

BREAKING: KUCOIN Exchange Hacked For $150 Million

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Source: coinmarketcap.com

 

For the first time, the exchange announced anomalous activity on its official Twitter page on September 26 at 6:01 am Moscow time. KuCoin announced that on September 25 at 22:05 Moscow time several withdrawals of large amounts were recorded at once.

However, later, in an official message on its website, the exchange noted that the first signals of suspicious activity were recorded at 21:51 Moscow time. At the same time, the reason for theft of assets was first named: the leakage of private keys of hot KuCoin wallets.

Source: kucoin.com

“According to the latest internal security audit report, a portion of BTC, ERC-20 and other tokens in KuCoin hot wallets have been removed from the exchange. Only a part of the total exchange-traded assets were contained in these wallets, “KuCoin representatives said..

Not for the record

In fact, the withdrawal of funds began much earlier than announced. According to blockchain data from digital wallets owned by KuCoin, the wave of withdrawals began as early as 19:00 Moscow time.. 

Source: cryptoquant.com

From 20:00 (September 25) to 10:00 (September 26), Bitcoin withdrawals from KuCoin have already been frozen. Back at 19:00 on September 25, the attackers managed to withdraw more than a thousand bitcoins for a total of more than $ 10.7 million.

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Bitcoin exchange rate ignored the theft of $ 150 million from KuCoin

Hackers also tried to withdraw more than 30 million USDT stablecoins, but the issuer Tether, in cooperation with the Bitfinex crypto exchange, froze the transaction..

Update. KuCoin has published a list of addresses to which the stolen assets are allegedly transferred:

  • ETH: 0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
  • BTC: 1NRsEQRg5EjmJHbPUX7YADVPcPzCQBkyU7
  • LTC: LQtFoidy5TmLrPP77MZzgMRffqPsmRfMXE
  • XRP: r3mZvvHVLPtRWAujzBsAoXqH11jhwQZvzY
  • BCHSV: 15mC7zKbLyErSKzGRHpy6gyqS7GyRpWjEi
  • XLM: GBM3PJWNB5VKNOFXCDTTNXPMUNBMYTLAAPYDIIKLHUGMKX7ZGN2FNGFU
  • USDT: 1NRsEQRg5EjmJHbPUX7YADVPcPzCQBkyU7
  • TRX: TB3j1gUXaLXXq2bstiSMfjQ9R7Yh9DdDgK

Correlation with the native token

The cybercriminals’ wallet, to which the cybercriminals withdrew the vast majority of the exchange’s assets, already “weighs” an impressive $ 150 million in ERC-20 tokens. Despite the fact that bitcoin almost did not sink in any way against the background of a serious hack, the price of the native token of the KuCoin Shares (KCS) exchange fell by 14% from $ 1.02 to $ 0.86.

Source: coinmarketcap.com

At the time of this writing, the cost of KCS / USDT is $ 0.92.

Earlier, the editorial staff of BeInCrypto reported that KuCoin was on the list of exchanges that are actively involved in money laundering. In addition to KuCoin, Binance, HitBTC, YoBit and others were on the list of suspicious sites.

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Bitcoin exchange rate ignored the theft of $ 150 million from KuCoin
Bitcoin exchange rate ignored the theft of $ 150 million from KuCoin
Bitcoin exchange rate ignored the theft of $ 150 million from KuCoin
Bitcoin exchange rate ignored the theft of $ 150 million from KuCoin

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