KuCoin’s Twitter account hacked – exchange says it will reimburse victims

The Twitter relationship of the crypto speech KuCoin was compromised for astir 45 minutes successful the aboriginal hours of April 24, the speech confirmed successful a tweet.

The hacker published a malicious station for a giveaway with a nexus to a phishing tract utilizing KuCoin’s authoritative Twitter account. The speech identified 22 transactions wherever users mislaid funds aft interacting with the phishing site. KuCoin users mislaid a full of 22,628 Tether (USDT), according to the tweet.

The speech has promised to “fully reimburse each verified plus losses caused by the societal media breach and the fake activity.” KuCoin besides assured users that the hack was constricted to the societal media relationship and that each funds connected the speech were safe.

Amid quality of the hack, KuCoin’s autochthonal token KCS is down 1.37% implicit the past 24 hours — trading astatine conscionable implicit $8 astatine the clip of writing, arsenic per CryptoSlate data.

Strengthening security

In bid to forestall much users from being impacted, KuCoin is examining and blocking suspicious addresses, it said. The speech has besides launched an in-depth probe into the Twitter hack.

The caller hack has besides nudged KuCoin to fortify the information practices of its societal media accounts. KuCoin said that it volition instrumentality further information measures connected each its societal media accounts — including its Twitter account, which already employs two-factor authentication.

Hacking authoritative Twitter accounts to beforehand fake giveaways and airdrops person go much and much communal implicit the past fewer years. The Twitter relationship of Circle’s main strategy serviceman and caput of planetary policy, Dante Disparte, was hacked past period and the perpetrators promoted a fake USDC airdrop to lure victims.

Stock and crypto trading level Robinhood’s Twitter relationship was besides breached successful January to beforehand an unauthorized token.

The station KuCoin’s Twitter relationship hacked – speech says it volition reimburse victims appeared archetypal connected CryptoSlate.