1 October 2026
Millions In Bitcoin And Ethereum Hacked From KuCoin
KuCoin a prominent cryptocurrency exchange that shares cryptocurrency trading prices live and a most advanced place to buy and sell cryptocurrencies has been hacked for $150 million.
The exchange confirmed the hacked news late on 25th September (UTC Time), "Bitcoin, ERC-20, and other tokens in KuCoin's hot wallets were transferred out of the exchange."
However, the exchange claimed that while its hot wallet is hacked but its cold wallets are safe. Further, it added, "if any user fund is affected by this incident, it will be covered completely by KuCoin and our insurance fund."
The issue was noticed when users started complaining about difficulty in withdrawal.
Initially, the admin team of KuCoin said that there was a system issue. One of the admin messaged on KuCoin's Telegram channel that users should not withdraw or deposit funds "given the situation." It claimed that "transactions are simply pending."
It was noticed that about $150 million worth of tokens was moved to a different address. The address received transactions of 11,484 Ether, worth roughly $4 million, plus $146 million in transactions of other tokens.
The crypto data company, Cryptoquant stated that t a large amount of Bitcoin left the KuCoin wallets quickly then stopped. "Since 20:00 UTC on September 25th," it tweeted, "the outflow has continuously been zero."
KuCoin crypto exchange also quickly assures users that if any user loses their funds it will be covered completely by KuCoin and insurance fund. Johnny Lyu, the CEO of KuCoin will talk more about the incident in Livestream soon.
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