KuCoin Has Found The Hackers Who Stole $281 Million

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KuCoin has recovered 84% of affected funds in $280M hack

Refunds have been made through blockchain tracking, contract renewals, and prosecutions, although the case has not yet been closed, so some details are still undisclosed.

Quote

Lyu said KuCoin has so far resumed the services for 176 tokens on the platform and the services for all remaining assets will resume before November 22.

Symmetrick

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Well, after the story with the Tornado mixer, attackers started mixing stolen bitcoins from KuCoin using Wasabi.

OXT Research user Ergo tweeted:

322 BTC passed through ChipMixer, 288 BTC through Wasabi. It was also found that some of the funds had been taken out to 4 new P2SH addresses.

- https://oxt.me/transaction/tiid/3124864933
- https://oxt.me/transaction/tiid/3124678430
- https://oxt.me/transaction/tiid/3124678475
- https://oxt.me/transaction/tiid/3124699770

Before sending funds to Wasabi, the attackers included unspent transaction outputs (UTXOs) from the Hydra darknet marketplace into the peel chains scheme.

sources:
- https://twitter.com/ErgoBTC
- https://forklog.com/vzlomavshij-kucoin-haker-nachal-otmyvat-bitkoiny-cherez-mikser-wasabi/

stompix

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Quote from: exstasie on October 23, 2020, 02:29:36 PM

These hackers exercised no patience. Roll Eyes

Probably it's their first job and they need to split the money, having lost quite a huge chunk of what they could've gotten their hand on now they are eager to split the money and be done with it. But I doubt they will simply send all that ETH to an exchange and then get fiat. Maybe they are testing the waters to see how much attention there is still on them, maybe it's just the first step and they plan to switch it again through tokens or it could be possible they're are thinking of extracting small amounts of those one at a time while the people are concentrating on the large sums.

Quote from: exstasie on October 23, 2020, 02:29:36 PM

I'll almost feel bad for these guys if they're dumb enough to send it to exchanges now,

Well, they say that criminals make stupid mistakes, that's why they get caught but in this case, it would really surprising, after all, they were smart enough to hack an exchange, they know how those operate, it would be as stupid as a thief getting himself locked in the vault he tried to break in.

But all this also means that the articles who claimed they found the hackers and the police know their whereabouts and identities were really misleading.

enhu

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Quote from: exstasie on October 23, 2020, 02:29:36 PM

Quote from: ?? on ??

Whoever stole funds from KuCoin is now trying to cover his tracks. In the ETH-mixer Tornado Cash hacker sent 11 520 ETH, lots of 100 coins and has already managed to mix almost 3000 ETH

These hackers exercised no patience. Roll Eyes

I don't know much about Tornado Cash (obviously an ETH mixer) but it definitely doesn't have the liquidity for that much ETH. I'll almost feel bad for these guys if they're dumb enough to send it to exchanges now, and I really feel bad for the other users of Tornado Cash.

Third party services are going to be looking at those depositors with a fine-tooth comb.

In a hurry to get caught. Some hackers like the ones who hacked bitfinex took years before they bother to make a transcation but were still monitored. The wallets are sure being traced. If they send it to an exchange, its truly going to be frozen. $281M is not going to be easy to liquidate without an alert.

If they've managed to hack Kucoin, they must be good at covering their tracks too. Won't they get away with the Wasabi?

exstasie

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Quote from: ?? on ??

Whoever stole funds from KuCoin is now trying to cover his tracks. In the ETH-mixer Tornado Cash hacker sent 11 520 ETH, lots of 100 coins and has already managed to mix almost 3000 ETH

These hackers exercised no patience. Roll Eyes

I don't know much about Tornado Cash (obviously an ETH mixer) but it definitely doesn't have the liquidity for that much ETH. I'll almost feel bad for these guys if they're dumb enough to send it to exchanges now, and I really feel bad for the other users of Tornado Cash.

Third party services are going to be looking at those depositors with a fine-tooth comb.

aioc

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Quote from: bitcoinst on October 03, 2020, 11:22:43 AM

Crypto exchange KuCoin has worked out who hacked its cryptocurrency exchange for $281 million.

CEO Johnny Lyu tweeted today that, "After a thorough investigation, we have found the suspects of the 9.26 #KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take action."

The hack took place on September 26. KuCoin said that the hackers used a leaked private key to access the exchange's wallets. KuCoin says that it has enough money in the bank to cover all of its losses.

It's good news I hope they can out the hackers in jail so to set example on those who wants to hack exchanges in the future, the best news is traders are not going to lose their coins as Kucoin already stated they they have enough money to cover the losses, now traders confidence on Kucoin will go back, this is a good evidence that when it comes to trading our coin go for the top exchange in the market to insured your coin against future hacks, but I hope these hacking will stop.

onecall123

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I just read an article where they comes with a statistics the performance of the top exchanged own cryptocurrencies by market cap. And the recent hack of KuCoin has unquestionably influenced KuCoin Shares (KCS) as it's displayed right now on the market where rest of other exchanges profitable with their native token.

btc_angela

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Quote from: target on October 04, 2020, 05:29:47 PM

Its funny but I doubt CZ has to do with it. Can they get the hacked tokens back after they identify the perpetrator?

Obviously, CZ is not involved, those people are just using his name. Well if there is a name behind those addresses then they can track him down and get arrested.

Quote from: target on October 04, 2020, 05:29:47 PM

I just hope the exchange will be back sooner. It would be good if they do. There is nothing much I would do right now than to buy KCS since its cheaper today, I tried registering to the exchange but they disabled the deposit to USDT.

They are already back as per their latest post here,

https://www.kucoin.com/news/en-the-latest-updates-about-the-kucoin-security-incident

Quote

BTC, ETH, USDT deposits and withdrawals have resumed, the TRC20-USDT, EOS-USDT deposit service now open. More Info

So it's a go for USDT.

target

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Its funny but I doubt CZ has to do with it. Can they get the hacked tokens back after they identify the perpetrator?
I just hope the exchange will be back sooner. It would be good if they do. There is nothing much I would do right now than to buy KCS since its cheaper today, I tried registering to the exchange but they disabled the deposit to USDT.

The Sceptical Chymist

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Quote from: The Cryptovator on October 03, 2020, 01:15:40 PM

What doesn't mean Decrypt token and decrypt apps? Please explain to us how it's related to the KuCoin hacking issue? I am expecting an answer from you.

No doubts it's good news that KuCoin has found the hacker and going to take action against him/her. Directly copy-paste from a website and just post with a link is very bad behavior. You are just filling your weekly quota in a shortcut.

I agree, and I saw your thread about OP earlier today.

I'm glad OP posted some news about the hack, even if it was a straight copy/paste including that stupid advertisement. Kucoin is the only exchange I use anymore, and I'm very interested to see if this is going to impact them in a significant manner--it doesn't seem like it will, but who knows.

Quote from: BlackFor3st on October 04, 2020, 03:46:28 PM

I hope that they can find the genuine hacker at put it in prison so they cannot hack any wallet anymore, a hacker will remain a hacker knowing that they can easily
get a free money to it.

Yeah, that would be nice, wouldn't it? I don't know how many of these exchange hackers have been caught and prosecuted by law enforcement, but I'm guessing the number is not far from zero. On the other hand, I can't imagine law enforcement wouldn't at least put in an effort to catch someone who stole an amount this large.

Baofeng

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Quote from: Darker45 on October 03, 2020, 09:08:45 PM

Quote from: Baofeng on October 03, 2020, 05:11:00 PM

Did Johnny Lyu mean this guy? Grin

This is sparking uninvited controversy, another conspiracy theory. But, well, sometimes the competition gets dirty. Who knows, right? Grin

Probably they just making fun of the situation and inserting CZ is comedy gold. Grin

Quote from: Yogee on October 03, 2020, 09:33:35 PM

Baofeng, that photo is funny hehe. CZ is killing the competition with all methods available.

Yes, CZ will always be in the middle of discussion, and perhaps they are trolling Johnny with CZ's images here. But I doubt CZ has something to do with it, in fact he is helping in blocking the scammers addresses in Binance.

MShow

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Quote from: BlackFor3st on October 04, 2020, 03:46:28 PM

I hope that they can find the genuine hacker at put it in prison so they cannot hack any wallet anymore, a hacker will remain a hacker knowing that they can easily
get a free money to it.

$281 million is a very huge money especially if it was being hack by a single person only so it will be very helpful if they can be put them in prison one by one so we can
feel safe to our money in any wallet.

Hackers generally enrage me, the most unpleasant thing is that they are everywhere. It is also very unpleasant that they are really difficult to calculate unless they make a mistake in their operation, as in the news where a hacker threatened his victims with a SIM card that was registered in his name. I think we need to pay more attention to security and countering hackers Angry

kryme

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Investigations take time. I provided information to the FBI about some scammers. We are two years into it still. If they moved the coins to Binance, IPs will be tracked quite easily. Binance didn't even require a warrant to give info the FBI. All they required was official letterhead and an official fbi.gov email address. If they did ID the hackers, you think they're going to make those names public before they've been arrested by the proper authorities?

BlackFor3st

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I hope that they can find the genuine hacker at put it in prison so they cannot hack any wallet anymore, a hacker will remain a hacker knowing that they can easily
get a free money to it.

$281 million is a very huge money especially if it was being hack by a single person only so it will be very helpful if they can be put them in prison one by one so we can
feel safe to our money in any wallet.

uray

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Quote from: oleg8791 on October 03, 2020, 10:40:00 PM

Kucoin made the great work and it took them a couple of weeks. In comparison Bitfinex couldn't recover 120,000 Bitcoin stolen in 2016. I'm interested if Kucoin will be able to get all $281M back?

The main difference is bitcoin is decentralized while the rest of the coins and tokens does not follow the same principle even though they claim decentralized Tongue

. Even in this instance the website has not revealed any names that could identify the hacker and if they got all the details then why the delay in publicly telling his name and expose him.

Ryker1

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Well, as I see here, --the hacker is quite dumb because of the reason moving his hacked crypto to the centralized exchange which the hacker thought he will never get identified. A good thing to the Kucoin exchange, the hacker knows how to hack but I think hacker did not know how crypto will work and the possibility of being traced once you will link to the centralized exchange. Users now of that exchange are happy to see that Kucoin now is back operation. I hope Kucoin will learn from this mistake and will n0ot repeat in the future.

Baskeyairdrop

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I believe they only published this to reassure their subscribers that they can still be trusted. Even though they had a security beach, they were able to narrow the hackers down meaning that they have a good cyber team.
Nevertheless, their reputation have been dented and by so doing they would loose a lot of trust from customers.
That amount that was hacked out of their system was really huge... Really careless of them though...

TopTort777

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In russian press, it is mentioned, that this hacker was one of Kucoin employees (not metioned, current or former).
If this true, theb finding him will be just a matter of time. The number of suspects are greatly narrowed.

cheezcarls

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The headline from Decrypt was a clickbait indeed. I thought that they've revealed the names of the hackers who stole more than $150 million worth of crypto on KuCoin. To be honest, I'm a bit pissed off. They only traced the addresses, but never revealed the names of the hackers in public? I don't know why though.

Maybe they only knew the addresses they've traced, but never knew the real identity of these hackers? If they indeed "identified" the hackers by their names and photos, they just simply mention them in public so that everybody could help trace their whereabouts.

acroman08

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Quote from: bryant.coleman on October 04, 2020, 08:12:14 AM

Any new development on this topic? If they actually manages to get hold of the hackers, then it will be an exception. We had dozens (if not hundreds) of exchange hacks since 2014 and not even once the actual perpetrators were captured and the stolen funds were recovered. I just hope that this time they manage to get hold of the thieves and make an example out of them. Even if they manage to recover a part of the funds, it is going to be huge.

here are the latest articles I could find in the last 24 hours. I haven't read them yet but since you are looking for latest updates you might be interested in it.

https://news.bitcoin.com/kucoin-ceo-says-exchange-hack-suspects-found-204-million-recovered/
https://cointelegraph.com/news/kucoin-ceo-claims-hacking-suspects-identified
https://www.coindesk.com/kucoin-ceo-says-perpetrators-of-281m-hack-identified-authorities-on-the-case

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