Exchange KuCoin and KuCoin shares

[puremage111]

The exchange was born in mid-September and promises and wants to become among the top 10 exchanges in the world, as well as its "twin" Binance.

Among its features:

Reliability: KuCoin uses data encryption, dynamic authentication, multi-level risk identification control, and other systems to guarantee transaction security.

Safe Wallet: The KuCoin wallet includes multilayer encryption, offline storage in a bank safe, funds escrow, and regular auditing by the bank.

Alright despite this post is 3 years ago
But rekt with 2 of this point xd

Anyhow seems like they are able to identify the hacker's identity
However they might take some time to prove themself again on "Safe Wallet" and "Reliability"

[paramind22]

It's not letting me withdraw my Neblio coins.  Says "Wallet Upgrade."  It's related to the hack.  I hope they cover this coin soon.

[StephenJH]

It's not letting me withdraw my Neblio coins.  Says "Wallet Upgrade."  It's related to the hack.  I hope they cover this coin soon.

Only 10 or 15 altcoins are open for deposit/withdrawal/staking the rest of the cryptocurrencies are frozen until the next update which you can check the latest news with this link: https://www.kucoin.com/news
If you want to withdraw, sell the Neblio for BTC-ETH pairs and buy the mentioned coins in this list which shows the available altcoins for withdrawal:  https://www.kucoin.com/news/en-the-latest-updates-about-the-kucoin-security-incident

I usually prefer to sell for high liquidity altcoins and convert these altcoins to BTC on Binance. For example, check Coinmarketcap and find the altcoins that have pairs on both Kucoin and Binance, later follow the necessary steps for not losing the commission.

[mdzahed134]

Do you think people are more trusting of the exchange because they will now be wiser when it comes to the security of the server and the funds?

A few exchanges are high liquidity in the crypto space such as Binance,Huobi,KuCoin and most of the people’s highly trusting with those exchanges. I think that's not problem but i don’t recommended to use any exchange as for their wallet. It's very risky to hold long term your assets in any exchange.             

[makishart]

It's not letting me withdraw my Neblio coins.  Says "Wallet Upgrade."  It's related to the hack.  I hope they cover this coin soon.

Only 10 or 15 altcoins are open for deposit/withdrawal/staking the rest of the cryptocurrencies are frozen until the next update which you can check the latest news with this link: https://www.kucoin.com/news

It's not only 10 or 15 and i ask you now if did you read the article that you have mentioned it in your post? It's clearly stated that more than 80 coins have already opened its withdrawal and deposit service.
I think you should do a double check for that again. It looks like you didn't read the latest update about this incident by kucoin.

[emrecemsan]

After the Kucoin exchange was hacked, I lost all my trust. I urgently needed money and they aggrieve me by closing the money withdrawal. I got extremely angry and pulled all my assets from Kucoin and sold my Kucoin shares. Trusting a hacked exchange can be foolish. Be careful.

[leea-1334]

After the Kucoin exchange was hacked, I lost all my trust. I urgently needed money and they aggrieve me by closing the money withdrawal. I got extremely angry and pulled all my assets from Kucoin and sold my Kucoin shares. Trusting a hacked exchange can be foolish. Be careful.

Well,,, next time do not wait for an exchange to get hacked before you lose all your trust.

Never trust an exchange no matter what. Keep everything you need and save in your own wallet this is the only way. Every exchange is "good" until they stop being good:)

[bct_ail]

Hacken did a research about the Kucoin hack. They suspect 3 reasons for the hack: web infrastructure, social engineering and Malicious actions of responsible employees. But nobody knows at this moment what really happened and there is still no answer from Kucoin.
But apart from that I find this is interesting to know:

Despite the exchange claiming to reimburse all losses to users, we can see that there are not enough funds on the identified KuCoin wallets to pay off the losses caused by the hack. In addition, the exchange did not have a secure asset fund from which to recover losses. Perhaps these funds are kept in bank accounts of the exchange or in “secret” wallets, but we do not have such information.

https://hacken.io/research/researches-and-investigations/kucoin-september-2020-hack-hacken-research/

[Tigerheart3026]

After the Kucoin exchange was hacked, I lost all my trust. I urgently needed money and they aggrieve me by closing the money withdrawal. I got extremely angry and pulled all my assets from Kucoin and sold my Kucoin shares. Trusting a hacked exchange can be foolish. Be careful.

such hacked is just an accident and it’s happen almost in big exchanges. nothing 100% safe in crypto btw we have to depend on exchanges dex or centralize. binance hacked back in 2019, this does not mean that no one uses it anymore btw no one was lost mony it’s recovered by safu fund. kucoin plans to recover their all of users money just wait and see.

[SlimShadyMmp]

I thinks hacks like that sometimes happens I hope they learn from that but the issue here I think will be to bring KCS back to maybe 1$ I have a huge bag and the hack affected its price but still I think with their poolz Kucoin is still good to use if you like CEX

[Francis Freeman]

I thinks hacks like that sometimes happens I hope they learn from that but the issue here I think will be to bring KCS back to maybe 1$ I have a huge bag and the hack affected its price but still I think with their poolz Kucoin is still good to use if you like CEX

The possibility of kucoin gaining the previous volume or the user trust and thereby KCS share reaching previous price really depends on how they are going to handle the projects which didn't do the swap.
Based on the responses it looks like they aren't handling them well at this stage.

[aesma]

Hacken did a research about the Kucoin hack. They suspect 3 reasons for the hack: web infrastructure, social engineering and Malicious actions of responsible employees. But nobody knows at this moment what really happened and there is still no answer from Kucoin.
But apart from that I find this is interesting to know:

Despite the exchange claiming to reimburse all losses to users, we can see that there are not enough funds on the identified KuCoin wallets to pay off the losses caused by the hack. In addition, the exchange did not have a secure asset fund from which to recover losses. Perhaps these funds are kept in bank accounts of the exchange or in “secret” wallets, but we do not have such information.

https://hacken.io/research/researches-and-investigations/kucoin-september-2020-hack-hacken-research/

That's why they must stay in business. It happened before, the exchange is broke, but stays in business, with better practices, and little by little it can recover and pay back what was lost. The problem is that for that to happen, transparency is a must, to keep the trust of clients. I'm not sure Kucoin is doing that right.

[asriloni]

I thinks hacks like that sometimes happens I hope they learn from that but the issue here I think will be to bring KCS back to maybe 1$ I have a huge bag and the hack affected its price but still I think with their poolz Kucoin is still good to use if you like CEX

KCS has already started to go back again to the $1 and I have been buying a lot of KCS when there were so many FUD in the kucoin telegram group regarding the hacked case.

KCS has already successfully recovered a lot of money from the stolen amounts by the hackers.
This exchange site is still safe to be used by anyone.

[Francis Freeman]

I thinks hacks like that sometimes happens I hope they learn from that but the issue here I think will be to bring KCS back to maybe 1$ I have a huge bag and the hack affected its price but still I think with their poolz Kucoin is still good to use if you like CEX

KCS has already started to go back again to the $1 and I have been buying a lot of KCS when there were so many FUD in the kucoin telegram group regarding the hacked case.

KCS has already successfully recovered a lot of money from the stolen amounts by the hackers.
This exchange site is still safe to be used by anyone.

Kucoin hav cooperated with a lot of the projects to do a token swap and thereby prevented the loss of the users money . But there are some projects which haven't agreed to do a token swap and kucoin is still dragging the case by suspending the trading and not allowing withdrawal.
I hope this gets sorted out soon.

[giammangiato]

From outside I can only say that KuCoin is doing well .. even if some shitcoin projects say the opposite.

After all, it has suffered a hack (for many an insider) and has not suffered so much the blow.
Let's also remember binance and bitfinex have undergone hacking and yet they are there, they too worked seriously..

[paramind22]

Things are still not good.  There isn't an easy way to fund kucoin for trading.  Several coins do not allow deposits from outside.  I just deposited a coin there only to find out I am not allowed to trade it.  So that is kind of screwed up: if I want to trade,it has to be in a coin that has a higher withdrawal fee.  

I understand they are recovering but not sure exactly why they are doing this. 

[inoes]

After the Kucoin exchange was hacked, I lost all my trust. I urgently needed money and they aggrieve me by closing the money withdrawal. I got extremely angry and pulled all my assets from Kucoin and sold my Kucoin shares. Trusting a hacked exchange can be foolish. Be careful.

As a result of the Hacking incident, KuCoin has stated that it will be responsible and ready to fully replace the funds that were stolen. They also provide insurance funds to the victims. As a result, they had difficulty withdrawing funds after the hack occurred. The only word they promised was: Wait! ...

[didzi]

After the Kucoin exchange was hacked, I lost all my trust. I urgently needed money and they aggrieve me by closing the money withdrawal. I got extremely angry and pulled all my assets from Kucoin and sold my Kucoin shares. Trusting a hacked exchange can be foolish. Be careful.

As a result of the Hacking incident, KuCoin has stated that it will be responsible and ready to fully replace the funds that were stolen. They also provide insurance funds to the victims. As a result, they had difficulty withdrawing funds after the hack occurred. The only word they promised was: Wait! ...

do you remember when binance was hacked mate ?
and binance can solve this hacking issue and i hope kucoin can fix this issue as binance do ,,
just my hope, all we can do now is increase our patience while waiting

[Febo]

After the Kucoin exchange was hacked, I lost all my trust. I urgently needed money and they aggrieve me by closing the money withdrawal. I got extremely angry and pulled all my assets from Kucoin and sold my Kucoin shares. Trusting a hacked exchange can be foolish. Be careful.

As a result of the Hacking incident, KuCoin has stated that it will be responsible and ready to fully replace the funds that were stolen. They also provide insurance funds to the victims. As a result, they had difficulty withdrawing funds after the hack occurred. The only word they promised was: Wait! ...

They need to rebuy lost coins as fast as possible. Wait is not good solution. Some coins forked and made stolen coins worthless. all coins that did not forked have to be bought by Kucoin as fast as possible so their price dont go up and they will not be able to buy them at a. If not they should simply bankrupt.

[paramind22]

I'm not one to panic, and I do have faith they will make it right, but perhaps now isn't the time to send more coins to fund trades.  I just deposited some NRG which shows as clearing in the explorer linked from their own site but is not showing up as cleared in my account.  Just in case someone is staking coins or something and wants to buy more coins.  This is in addition to another coin I used to fund Kucoin which deposited but they are not trading with now for some reason.