Topic: KuCoin Has Found The Hackers Who Stole $281 Million - page 2. (Read 718 times)
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.
CEO Johnny Lyu gave updates regarding the hackers who stole $ 281M, only to appease KuCoin investors who were affected by the incident.
By providing a statement on twitter about the development of the hack case, as a way to make investors believe that their funds are safe.
In fact,KuCoin doesn't know the identity of the hacker who managed to steal from KuCoin. So for me, this news has not shown any significant
development, it's only limited to knowing the hacker's address. Hopefully in the near future, KuCoin can immediately get the hacker's identity.
We are hopeful to see it by then but that didn't seem so easy to track them down and paid their doings. We can't also underestimate these hackers coz they are probably on the goal to keep them untraceable to the authorities. But the problem is, the closer it gets to know who are they, the closer also the funds gone forever. By providing a statement on twitter about the development of the hack case, as a way to make investors believe that their funds are safe.
In fact,KuCoin doesn't know the identity of the hacker who managed to steal from KuCoin. So for me, this news has not shown any significant
development, it's only limited to knowing the hacker's address. Hopefully in the near future, KuCoin can immediately get the hacker's identity.
The hotness of this hacking sentiment will soon to rotten and forgotten by many, and I believe that KuCoin owner will recover their losses.
CEO Johnny Lyu gave updates regarding the hackers who stole $ 281M, only to appease KuCoin investors who were affected by the incident.
By providing a statement on twitter about the development of the hack case, as a way to make investors believe that their funds are safe.
In fact,KuCoin doesn't know the identity of the hacker who managed to steal from KuCoin. So for me, this news has not shown any significant
development, it's only limited to knowing the hacker's address. Hopefully in the near future, KuCoin can immediately get the hacker's identity.
By providing a statement on twitter about the development of the hack case, as a way to make investors believe that their funds are safe.
In fact,KuCoin doesn't know the identity of the hacker who managed to steal from KuCoin. So for me, this news has not shown any significant
development, it's only limited to knowing the hacker's address. Hopefully in the near future, KuCoin can immediately get the hacker's identity.
not until the hacker has been bring behind bars then this news still nothing.
And Mind the next time you COPY PASTE the topic,Please do not Include the advertising or downloading their Apps,because this comes to be a referring .
Looking forward what will be the outcome of this hacking because this is really important in our time now how to track the hackers.
And Mind the next time you COPY PASTE the topic,Please do not Include the advertising or downloading their Apps,because this comes to be a referring .
Looking forward what will be the outcome of this hacking because this is really important in our time now how to track the hackers.
This news is quite good for the users of KuCoin. At least right now, the case has progressed. The KuCoin confirmed that they have substantial evidence, and not all exchanges can cover all of its losses. I think it's favorable to all and expect that many would trust KuCoins after this tragedy. Hoping all exchanges can do the same when they got hacked.
Then this is something to follow because until they really catch the hackers people in crypto will still prevent from using their service and also think twice before using exchange.
hacking is something that happening for many years now but still even the Biggest exchange becomes a victim.
hacking is something that happening for many years now but still even the Biggest exchange becomes a victim.
Even if they found the hackers,the lawsuit will take years and the stolen funds might never be recovered.
This seems more like a PR move,rather than actual good news for the Kucoin investors,who have lost their coins.
By the way,is this forum post some kind of advertisement?What is this Decrypt app?If you want to promote a Crypto news app,you could post a forum thread in a more suitable sub-forum.
The crypto industry is still at a very early stage and hacks and scams are still a big problem,but I think that crypto trading platforms will become more and more secure,year after year.
it doesn't need the funds must be recover instantly because the main thing here is that Hackers must be punished so others will think again if they will follow this strategy or will stop with their monkey businesses. This seems more like a PR move,rather than actual good news for the Kucoin investors,who have lost their coins.
By the way,is this forum post some kind of advertisement?What is this Decrypt app?If you want to promote a Crypto news app,you could post a forum thread in a more suitable sub-forum.
The crypto industry is still at a very early stage and hacks and scams are still a big problem,but I think that crypto trading platforms will become more and more secure,year after year.
Even if they found the hackers,the lawsuit will take years and the stolen funds might never be recovered.
This seems more like a PR move,rather than actual good news for the Kucoin investors,who have lost their coins.
By the way,is this forum post some kind of advertisement?What is this Decrypt app?If you want to promote a Crypto news app,you could post a forum thread in a more suitable sub-forum.
The crypto industry is still at a very early stage and hacks and scams are still a big problem,but I think that crypto trading platforms will become more and more secure,year after year.
This seems more like a PR move,rather than actual good news for the Kucoin investors,who have lost their coins.
By the way,is this forum post some kind of advertisement?What is this Decrypt app?If you want to promote a Crypto news app,you could post a forum thread in a more suitable sub-forum.
The crypto industry is still at a very early stage and hacks and scams are still a big problem,but I think that crypto trading platforms will become more and more secure,year after year.
This is wonderful news but I am not surprised they find the hacker because I have already make some research about the hacker token movement and I find that he moved some of the token to Okex and Binance exchange which is a centralized exchange.
I think that's where they nab the hacker.
Of course, they would easily nab the hacker with that. Moving the assets to those exchanges was the slip we all hoped for and if it's a verified account then it's easier nailing the suspect as the KYC documents to the account used will be traced to them. Initially, I thought the hacker was smarter by dumping on Dex. Good a thing something gave them away. And for those of us here who readily submit personal data as KYC doc for bounties and airdrops, you can now see the danger you expose yourselves to if a project team eventually exits a scam? The hacker could even have used such a document for verification on those exchanges and the real owners would be in danger now. Be wise, people. I think that's where they nab the hacker.
How they found him? Is he should to return everything now?
This is just the beginning, they only track the address and not the person itself. Unless the hacker has passed his documents to exchanges for KYC. But criminals are too clever, I will not be surprised if he just used fake documents here.
So it might take years to pursue this criminals and it will be difficult to arrest them if they stay on some rogue nation that does not cooperate with Interpol or Western authorities.
So it might take years to pursue this criminals and it will be difficult to arrest them if they stay on some rogue nation that does not cooperate with Interpol or Western authorities.
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?
not until the hacker has been bring behind bars then this news still nothing.
And Mind the next time you COPY PASTE the topic,Please do not Include the advertising or downloading their Apps,because this comes to be a referring .
Looking forward what will be the outcome of this hacking because this is really important in our time now how to track the hackers.
And Mind the next time you COPY PASTE the topic,Please do not Include the advertising or downloading their Apps,because this comes to be a referring .
Looking forward what will be the outcome of this hacking because this is really important in our time now how to track the hackers.
(....)
If I'm Johnny though, I will keep the info silent and not let the public know about it until they really arrested the person/group behind the attack. Let them feel comfortable sitting with their laptop and dumping it and when they least expected, police or Interpol can sweep and arrest those cyber criminals.
You got a point here but what I am seeing the reason why KuCoin team or their CEO is publishing these kinds of statement is to make their users feel more positive in despite of the huge losses of the exchanges, and even they guaranteed that no users will get affected or they will make refund for those affected users. If I'm Johnny though, I will keep the info silent and not let the public know about it until they really arrested the person/group behind the attack. Let them feel comfortable sitting with their laptop and dumping it and when they least expected, police or Interpol can sweep and arrest those cyber criminals.
If you are still a user of their exchange, you are still afraid and your balls may still shake. So, these kinds of statement make them relieved for a while even we can't guarantee if those are true.
Yeah thats so interesting,hacker stole only bitcoins and Erc-20 based based token i,e bitcoin,etherium etc. I think this is due to high price of these tokens.
As mention by Kucoin
""KuCoin said it detected the hack after observing "some
large withdrawals" from its hot wallets on September 26.
The company said it started a security audit and discovered the missing funds. KuCoin said the hacker managed to steal Bitcoin assets, ERC-20-based tokens, along with other types of tokens.
Currently, the loss is estimated at a minimal $150 million, based on an Etherium address where users tracked some of the stolen funds.
As mention by Kucoin
""KuCoin said it detected the hack after observing "some
large withdrawals" from its hot wallets on September 26.
The company said it started a security audit and discovered the missing funds. KuCoin said the hacker managed to steal Bitcoin assets, ERC-20-based tokens, along with other types of tokens.
Currently, the loss is estimated at a minimal $150 million, based on an Etherium address where users tracked some of the stolen funds.
Baofeng, that photo is funny hehe. CZ is killing the competition with all methods available.
I guess they are more concerned with keeping their users at ease. They need to give significant updates every now and then. True or not, they really need to show some considerable results, some progress achieved from their investigation to somehow pacify their restless clients.
At the end of the day, this is a hollow development unless and until the culprit gets arrested and the stolen funds recovered.
This could be another strategy to force the hackers to panic and commit mistakes that will reveal their identity or maybe I've watched too many movies. Bluff or not, Johnny will become a laughing stock if the hackers managed to flee.
Quote
If I'm Johnny though, I will keep the info silent and not let the public know about it until they really arrested the person/group behind the attack. Let them feel comfortable sitting with their laptop and dumping it and when they least expected, police or Interpol can sweep and arrest those cyber criminals.
I guess they are more concerned with keeping their users at ease. They need to give significant updates every now and then. True or not, they really need to show some considerable results, some progress achieved from their investigation to somehow pacify their restless clients.
At the end of the day, this is a hollow development unless and until the culprit gets arrested and the stolen funds recovered.
.......and if the statement is true then the so called hacker could get out without any legal implications as he used a leaked private key.
How? I'm not a lawyer but does having access to a private key legally allows you to take money that is not yours? I doubt that. 
This is sparking uninvited controversy, another conspiracy theory. But, well, sometimes the competition gets dirty. Who knows, right?
Quote
If I'm Johnny though, I will keep the info silent and not let the public know about it until they really arrested the person/group behind the attack. Let them feel comfortable sitting with their laptop and dumping it and when they least expected, police or Interpol can sweep and arrest those cyber criminals.
I guess they are more concerned with keeping their users at ease. They need to give significant updates every now and then. True or not, they really need to show some considerable results, some progress achieved from their investigation to somehow pacify their restless clients.
At the end of the day, this is a hollow development unless and until the culprit gets arrested and the stolen funds recovered.
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.
Looks like the best in the business running the business 
, they could not even identify a leaked private key in which their coins are held in the exchange. No matter how much money they have as reserves and if the statement is true then the so called hacker could get out without any legal implications as he used a leaked private key.I wonder how it was leaked? Inside job? That means their security is not so tight considering they are holding billions of dollars of assets. This will be their lesson to maybe upgrade their security protocol or add more security layer on their hot wallets as well as their cold storage.
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.
Looks like the best in the business running the business , they could not even identify a leaked private key in which their coins are held in the exchange. No matter how much money they have as reserves and if the statement is true then the so called hacker could get out without any legal implications as he used a leaked private key.Have to check on how the site was hacked as they need to be stupid to hold the funds in a wallet where the private key was leaked as per your statement.
$204 million worth of cryptocurrency, or 72% of the total hack, is "out of the control of the suspicious addresses?
Where it goes? Probably they are converting it already into fiat money and keep on the bank.
Sorry but KuCoin has no chance to know the hackers, they got the address and that's all its left. If I am the founder, I have to let go, it makes no sense to keep tracking into addresses because in the end, we got nothing but just these blockchain records.
Where it goes? Probably they are converting it already into fiat money and keep on the bank.
Sorry but KuCoin has no chance to know the hackers, they got the address and that's all its left. If I am the founder, I have to let go, it makes no sense to keep tracking into addresses because in the end, we got nothing but just these blockchain records.
At first, I thought they really found the individuals or the hackers.
But they only traced the addresses and froze or made useless those tokens involved.
One mistake from these hackers is if they did their KYC to those exchanges where they sent their stolen coins.
But are they going to disclose the names, if in case they truly caught those people involved?
$204 million worth of cryptocurrency, or 72% of the total hack, is "out of the control of the suspicious addresses?
Where it goes? Probably they are converting it already into fiat money and keep on the bank.
Sorry but KuCoin has no chance to know the hackers, they got the address and that's all its left. If I am the founder, I have to let go, it makes no sense to keep tracking into addresses because in the end, we got nothing but just these blockchain records.
Where it goes? Probably they are converting it already into fiat money and keep on the bank.
Sorry but KuCoin has no chance to know the hackers, they got the address and that's all its left. If I am the founder, I have to let go, it makes no sense to keep tracking into addresses because in the end, we got nothing but just these blockchain records.
Can you explain briefly about below quote?
It's an ad and part of the article if you'll go through the website. He probably forgot to delete it when he pasted it here.Download The Decrypt App.
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If I'm Johnny though, I will keep the info silent and not let the public know about it until they really arrested the person/group behind the attack. Let them feel comfortable sitting with their laptop and dumping it and when they least expected, police or Interpol can sweep and arrest those cyber criminals.
I'll do that the same of keeping it low profile first. Until everything has been solved and the culprit is on the custody, that's the time to celebrate and spread it on the news that they've arrested him with sufficient evidence. Jump to: