• KuCoin suffered a Twitter hack which resulted in users losing over 22,000 USDT worth of assets.
• The platform was able to recover its account and promised to reimburse affected users.
• KuCoin has also implemented additional security measures and is conducting a thorough investigation with Twitter.
KuCoin’s Twitter Account Compromised
KuCoin recently became the victim of a Twitter hack, resulting in users losing over 22,000 USDT worth of assets. The crypto exchange was able to recover its account after 45 minutes but noted that it was the only channel affected.
Losses Totaling 22,628 USDT
The hackers managed to carry out transactions with ETH and BTC before the platform could take back control of its account. Investigations revealed that the losses totaled 22,628 USDT.
Reimbursement for Affected Users
KuCoin has promised to reimburse all affected users while it continues to investigate and block suspicious activities. The company also stressed that it would boost security to prevent any similar incidents from occurring in future.
Additional Security Measures Put In Place
In addition to Twitter’s existing two factor authentication (2FA), KuCoin has put additional security measures in place such as fortifying the protection of their social media accounts.
Investigations with Twitter Ongoing
The exchange is currently carrying out investigations on this incident along with Twitter in order to ensure similar occurrences don’t happen again in the future.