- The crypto exchange recovered 84% of the crypto assets stolen from the KuCoin hack.
- KuCoin exchange has resumed offering its crypto exchange service for 176 tokens.
- The KuCoin hack happened in late September.
KuCoin crypto exchange recovered 84% of the crypto assets stolen from the KuCoin hack.
(1/3) Latest updates about #KuCoin Security Incident: So far, 84% of the affected assets have been recovered via approaches like on-chain tracking, contract upgrade and judicial recovery. As asked by the law enforcements, we will publish all the details once the case is closed.
— lyu_johnny (@lyu_johnny) November 11, 2020
According to KuCoin exchange CEO and Co-Founder Johnny Lyu, they retrieved the assets from the KuCoin hack by contract tracking. Aside from this, they also performed a contract upgrade and judicial recovery.
Additionally, KuCoin exchange has resumed offering its crypto exchange service for 176 tokens. Also, the remaining services will reopen before November 22.
Lyu particularly said,
As the People’s Exchange, I’m glad that we have dealt with this incident in an open and transparent manner, always putting our users first.
Rest assured, Lyu said, that they will safeguard their users. This is to ensure that the KuCoin exchange hack will not happen again. Furthermore, they will “bring more hidden gems” to the crypto world “like [they] always did.”
As for the rest of the KuCoin hack details, Lyu said that they will publish a report, as requested by relevant authorities.
The KuCoin exchange hack happened at the end of September, wherein the hackers stole almost $300 million. KuCoin said that it was quick to identify the culprits behind the exchange hack. They also tracked the movement of the lost funds, showing that hackers moved 800 BTC to unknown wallets as of late.
Read more: The Biggest Crypto Exchange Hacks in History