Topic: KUCOIN Hacked - page 6. (Read 2657 times)
I am not in support of any hack especially the black hat hack, but the way things has gone with this Kucoin hack has brought about a lot of questions marks, not just for the Kucoin team but also some of these projects that their tokens was hacked, frozen this tokens and issuing another for project that claim they are Decentralised is very disturbing
Singapore-based cryptocurrency exchange KuCoin today underwent a hot wallet hack, hacker managed to bring in about 157 million dollars, but luckily kucoin cold wallet is safe and all hacked funds will be completely replaced by kucoin.
Once again, cybersecurity is MANDATORY in the current crypto environment
Hacker wallet https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
source https://www.kucoin.com/news/en-kucoin-security-incident-update
Right after they went into partnership with poloniex.Once again, cybersecurity is MANDATORY in the current crypto environment
Hacker wallet https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
source https://www.kucoin.com/news/en-kucoin-security-incident-update
Hopefully, kucoin won't struggle to compensate lost funds
I think it's about time everyone know that keeping their crypto in exchanges is a bad idea, just take a look at kucoin a reputable exchange still got hacked, no exchange is safe from hackers, luckily kucoin have enough money to replace the stolen one, imagine if they didn't have that much amount of money, traders would have just lost their funds without any hope of getting them back, we should just stop trusting that this exchanges will keep our crypto safe, it's no longer safe with them we should always use our wallet instead of letting our crypto remain in exchanges.
Exchange hacks are inevitable
Exchange hacks are inevitable
Agree, exchangers with good reputation will always be targeted because of the large transaction value and this invites malicious hackers to steal crypto stored in exchange wallets. Even though Kucoin has announced that it will compensate all customer losses, it is better if we store our crypto in a wallet that we hold the private key.
Of course, storing our crypto in our wallet is the best choice we can ever make, lately unpredictable events happen in the crypto world no one can tell which exchange is getting hacked next, so the best we can do is to store our large amount of crypto in our own wallet, then leave a very small or insignificant amount of our crypto on exchanges, reputable exchange or not, keeping large amount of crypto on any exchange is a bad idea.
When are we going to have a save environment on crypto space? Time will surely tell
You can do nothing about this and the only exchange site itself who can save the funds of its users from the hacked case like this. Remember if anything was under control of the exchange site. As the party who has been holding the user's fund and kucoin should take all of the responsibility about this.
How can you save the environment if you have no power to do that?
There must be regulation about this and then people can take action about that.
My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
Are they allowing you to trade, whatever it may be the situation is really shitty. Every few months we will be seeing a major exchange hack and i am thinking whether all these exchanges are designed by one team so that every few months the hackers will exploit the weakness 
. The coins are on the move and what is the total loss and hopefully you will be getting you coins, what is their response regarding customer funds, will they be refunding everyone.
Waoh, this is devastating. Kucoin has been a very solid exchange from inception. This is bad news for the crypto space. When are we going to have a save environment on crypto space? Time will surely tell
My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
I have few coins also in kucoin then heard about the news of hacking.I just check my account and my money is still there but unable to withdraw. Hoping everything went to normal again, its just shows that even the exchange has high security it is not safe from hacking.
Thats why its not advisable to keep your coins in an exchange, well im planning to already trade my coins thats why its in there but this incident happened.
It's okay to keep if you are trading actively but up to the certain amount of what you can only afford to lose. My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
I have few coins also in kucoin then heard about the news of hacking.I just check my account and my money is still there but unable to withdraw. Hoping everything went to normal again, its just shows that even the exchange has high security it is not safe from hacking. Thats why its not advisable to keep your coins in an exchange, well im planning to already trade my coins thats why its in there but this incident happened.
My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
Did you have a lot of cryptocurrency stuck on KuCoin? At least it is good that they announce they resume withdrawals. Heard that they promised to compensate users losses. But I just dont know how it will be made.
I know that significant amount NOIA tokens were stolen during this hack. Such amount can heavily influence projects reputation (already did) and hackers can impact on the market price. Token price has already dropped for 40% in 1 day. And team has created a token swap based on blockchain snapshot.
In other words - I had tokens worth 200$. Their value dropped to 120$ in 24h, but they still could be traded (if I was able to deposit them). Team send me "new" tokens, that currently are not traded and not movable. I had 200$, now I have tokens worth 0$ with potential of growth.
At first I was confident that Kucoin was a good exchange and good in a way that you will have the best arrangements when it comes to security. I guess more and more people will be dealing with DEX now since hacks are becoming more common. We are going to be more responsible when it comes to securing and protecting our assets and our funds. There would be no blame games and hackers not really that many wallets to hack. I think that a DEX that is fully decentralized will be able to provide the security an investor needs and also the speed of the transactions are fast too.
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security is definitely the most important thing when a company dealing with someone else's money and for many times centralizing asset in a hot wallet is definitely a bad idea though as we can we still have no solution to that hat's practical and efficient.
But, as the saying "no system is safe" goes maybe means we gonna see another hacking like this if the security is not tightened and the exchange not investing into security heavily or maybe start decentralizing their asset?
But, as the saying "no system is safe" goes maybe means we gonna see another hacking like this if the security is not tightened and the exchange not investing into security heavily or maybe start decentralizing their asset?
My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
I hope we can all learn from this incident...Storing coins in an exchange wallet is actually not safe because the exchange is potentially exposed to hacker attacks. currently, there are many universal wallets that are complete and have good security, such as MEW, Atomic, and Exodus.
it is not safe nowhere, if you do not keep your credentials safe, and exchange hacks happen, but that could also happen to your credentials
one has to be careful and keep his belongings on a safe place, but it is not easy in this world, where there are hackers everywhere
nevertheless, this is a good lesson
My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
I hope we can all learn from this incident...Storing coins in an exchange wallet is actually not safe because the exchange is potentially exposed to hacker attacks. currently, there are many universal wallets that are complete and have good security, such as MEW, Atomic, and Exodus.
I think it's about time everyone know that keeping their crypto in exchanges is a bad idea, just take a look at kucoin a reputable exchange still got hacked, no exchange is safe from hackers, luckily kucoin have enough money to replace the stolen one, imagine if they didn't have that much amount of money, traders would have just lost their funds without any hope of getting them back, we should just stop trusting that this exchanges will keep our crypto safe, it's no longer safe with them we should always use our wallet instead of letting our crypto remain in exchanges.
Exchange hacks are inevitable
Exchange hacks are inevitable
It is precisely because of such news that people have a negative opinion about cryptocurrencies. Sometimes it seems that in the field of cryptocurrencies there are no honest people, everyone wants to somehow cheat or steal. A sad reputation, this slows down development and leads to bans in different states.
Yes, excellent protection of the exchange, but they can become a victim of phishing! LOL! 
This reminds me of a cartoon like this!
You still believe about hacking exchanges?
This reminds me of a cartoon like this! You still believe about hacking exchanges?
My money has been locked up in kucoin , I can't withdraw it since 26th, they say they resume withdraws in a week but I don't think it happens that soon , they need to fix that bug or it could happen again, I always remind myself, don't keep your money in exchange but still sometimes I forget it!
another bad story in ccryptocurrency world
i hope all exchange will increasing their security to reduce the risk of being hacked
i hope all exchange will increasing their security to reduce the risk of being hacked
Basically, the private key of kucoin got stolen due to the phishing. There was no problem in the security that has already used by kucoin as it's clearly stated by the kucoin itself if they have already disabled all of system when the hackers were moving the amounts into the new wallets.
The problem is how can the kucoin be a victim for the phishing link? Im feeling curious about this.
only noobs got phished right now because of how easy it is to know and why will they use a single wallet for all of the funds that they held . if let say im the owner or not but as long as i have huge funds , ill seperate them on a different number of wallets .
another bad story in ccryptocurrency world
i hope all exchange will increasing their security to reduce the risk of being hacked
i hope all exchange will increasing their security to reduce the risk of being hacked
Basically, the private key of kucoin got stolen due to the phishing. There was no problem in the security that has already used by kucoin as it's clearly stated by the kucoin itself if they have already disabled all of system when the hackers were moving the amounts into the new wallets.
The problem is how can the kucoin be a victim for the phishing link? Im feeling curious about this.
Singapore-based cryptocurrency exchange KuCoin today underwent a hot wallet hack, hacker managed to bring in about 157 million dollars, but luckily kucoin cold wallet is safe and all hacked funds will be completely replaced by kucoin.
Once again, cybersecurity is MANDATORY in the current crypto environment
Hacker wallet https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
source https://www.kucoin.com/news/en-kucoin-security-incident-update
Once again, cybersecurity is MANDATORY in the current crypto environment
Hacker wallet https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
source https://www.kucoin.com/news/en-kucoin-security-incident-update
another bad story in ccryptocurrency world
i hope all exchange will increasing their security to reduce the risk of being hacked
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