KUCOIN Hacked

[1l1l11ll1l]

I think this is the first time that kucoin got hacked if I'm not wrong. I thought kucoin has a solid security but still hacker destroyed it. Damn 150 million dollars was lost, lucky hacker that money is too much for living. Seems inside job because how hacker broke the security easily?...

Iam sure not that easy, but yeah this is super huge, it's 3rd largest hack in crypto industry so far. I hope this is the last and will not happen again. Even though all customer funds can be recovered, things like this still show that there are still gaps that can be penetrated. No security is perfect, but all in all there will be better preventive measures in the future

[Cvetik56]

Singapore-based cryptocurrency exchange KuCoin today underwent a hot wallet hack, hacker managed to bring in about 157 million dollars, but luckily kucoin cold wallet is safe and all hacked funds will be completely replaced by kucoin.

Once again, cybersecurity is MANDATORY in the current crypto environment

Even though real users most probably haven't lose anything. It surely did hurt kucoin's respectability and reliance for a long time

[palukritik]

never use it..
i choose huobi because they never get hacked

[mirakal]

never use it..
i choose huobi because they never get hacked

Kucoin got hacked but no users are affected, all the lost money was reimbursed, that is why they are still here.

The exchange still has millions of trading volume, so they are still making millions in their operation.

as you can see https://coinmarketcap.com/exchanges/kucoin/.. though the volume has dropped a bit, but they still have a decent volume.

[_IRMAN]

never use it..
i choose huobi because they never get hacked

All centralized exchanges could be hacked, Huobi could also be hit at some point. So never use centralized exchanges to store long term money, use personal wallets.

[GelatikKembar]

Kucoin is a big exchange, it doesn't mean that if they get hit by hackers then they will close, you are wrong,
they have a good team, and I am sure they will compensate, the volume of Kucoin is still large and traders are still active there,
this is not the end Kucoin, keep hodl KCS, and you can win.

[paglarhat]

I was very worried after the Kucoin Exchange was hacked.
 Since my 1000 $ BTC was on the Kucoin exchange.
 However, I did not suffer any loss due to the quick action of the team management.

[amarmurgi]

Why is kucoin hacked even after a good exchange, and because it has been hacked, they will leave their exchange, big people work with their kucoin exchange, so kucoin exchange can never escape, I think the lost dollar may be ours. The powerful team of kucoin exchange can give back because this time they will work with much better protection. Thanks

[Teraboy]

never use it..
i choose huobi because they never get hacked

It could happen anytime coz we didn't even know whether there's a security branch on huobi that's not yet discovered.
BTW any exchange can be hacked anytime as long as there's a vulnerable feature or just like the kucoin's case when it was getting hacked by phishing email.

Anything can happen in crypto. I hope that huobi will never be hacked. This is why security is the most important part in centralized exchange site.

[kasakola]

Allah protected me even after kucoin exchange was hacked because I had some BTC in kucoin inshallah team management could not take my BTC easily, and I think kucoin exchange management is corrosive they will work again to protect from hack because I think kucoin Exchange is a crypto market.

[Marma Kalari]

I hope this is the last and will not happen again. Even though all customer funds can be recovered, things like this still show that there are still gaps that can be penetrated. No security is perfect, but all in all there will be better preventive measures in the future

Throughout the short history of cryptocurrency market we have seen many hacks and you hope that this is the last hack to happen  . The security is not up to the mark and hence the hackers are able to find the loophole, the positive aspect is that the owner revealed that they have the information regarding the culprit and hopefully we sill see some arrest in the near future.

[Febo]

never use it..
i choose huobi because they never get hacked

All centralized exchanges could be hacked, Huobi could also be hit at some point. So never use centralized exchanges to store long term money, use personal wallets.

Yes. The best you can do it to deposit coins, trade them and withdraw. This way you minimise chance they rob you out of your coins. You would be very unlucky that hack happen in that hour you are doing your trade. You would be so unlucky to be able to win a lottery.

[dhaldanga]

The Kucoin Exchange was hacked, many lost their funds.
 I also had 2000 $ ETH in Kucoin exchange.
 However, due to the quick action of the team management, I did not suffer any loss.

[rahmatullah9305]

never use it..
i choose huobi because they never get hacked

It's not never, it's just that it can't be hacked because hackers are smart people who always take advantage of opportunities on every exchange whose security is not improved, so I don't think the words have never been hacked are suitable for use.

[palukritik]

never use it..
i choose huobi because they never get hacked

It's not never, it's just that it can't be hacked because hackers are smart people who always take advantage of opportunities on every exchange whose security is not improved, so I don't think the words have never been hacked are suitable for use.

as far as they establish, they never gets hack...
even binance gets hacks..

[maldini]

You are correct that individuals ought not store there cash on trade yet the best exercise that I learned on this occasion was pick a trade. I think right this is the ideal opportunity else they will lose business and maybe will be totally supplanted by the decentralized trades.

[Natalim]

The Kucoin Exchange was hacked, many lost their funds.
 I also had 2000 $ ETH in Kucoin exchange.
 However, due to the quick action of the team management, I did not suffer any loss.

You stated that "many lost their funds" but that's not true, nobody lost funds actually. Kucoin was able to recover most of the funds hacked according to them, thanks to advanced tracking and team efforts. However, Kucoin and all exchanges need to advance their security, this is because hackers keep devising new means to hack. All these hacks on CEX is the major reason why we shouldn't keep funds on exchanges long term, only for trading purpose.

Yeah, they do, they recover "84% of Funds Stolen in $280 Million Hack", that's according to the news.

Kucoin Recovers 84% of Funds Stolen in $280 Million Hack


However, they still loss 16% or 44 million usd, that's a huge money, and even if we say some of these are from customers deposits, but Kucoin were able to refund everything, so we did not hear complains from traders and investors.