Kucoin hacker moved the stolen BTC.

[figmentofmyass]

These hackers are stupid enough to take away a handful of Bitcoin and mostly ERC20 tokens.

1k bitcoins is certainly not nothing. they took what they could---everything in the hot wallets. there's nothing stupid about that! thankfully kucoin didn't have that much in their hot wallets, besides tokens.

Foolish people who trust tokens ERC20! Such "freezing" indicates that there is no decentralization...

that's both good and bad---good in cases of hacks and thefts, bad if you actually need censorship resistance.

with money like bitcoin, censorship resistance is important. with ICO/security tokens, that's less true IMO. different trust/security models for different use cases.

[Nellayar]

Actually I am really sad to hear this news, as if this is an event that must be done every year, whether it's stealing or hacking, all of them are criminal acts that the perpetrator must find and punish. All exchanges have almost experienced something like this and their users are so harmed that they start to feel panic. Hopefully there are no more hack cases next year, this will be the last one. Responding to the transfer of funds from the hack it seems that the hacker is not smart and seems easy to catch.

Hacking exchanges seem to be normal in this industry. Many exchanges were fell because of this event. Every time there is a bullish momentum in the market, a catalyst like this will change its trend. Kucoin is one of the best cex but still there are perpetuator who tried to move the stolen BTC. We hope that the criminal will be find but I think the hacking cases won`t ceased even in the next years. Until the security of exchanges can`t crack, hacking events still continuous to ruin the ecosystem of cryptocurrency.

[Johnyz]

Its too impossible to identify those hackers and those addresses especially if they are using some site for mixing their bitcoin, well this is a lesson to be learned and exchanges should know this by now since many hacking incidents happened on exchanges. Though Kucoin assure that they will shoulder this and their insurance can handle, I’m still doubt on this.

[Viscore]

Its too impossible to identify those hackers and those addresses especially if they are using some site for mixing their bitcoin, well this is a lesson to be learned and exchanges should know this by now since many hacking incidents happened on exchanges. Though Kucoin assure that they will shoulder this and their insurance can handle, I’m still doubt on this.

KuCoin has to accept their losses and the success of these hackers will eventually give them a reason to create a very strong key that will save them int the coming days as anytime soon these hackers will get back to them.
A lesson to learn either but this is not the first case that it happens in the market, some reputable exchanges experience the same. And to think that hackers are smarter than those you have been KuCoin.

Moreover, in this kind of business, we are prone to hacking incidents and we can't assure also that we are safe all the time.

[Lillominato89]

it must be said that kucoin has declared that the loss of assets will be covered by an insurance, and that all users will be compensated, obviously they will have to increase their security level, because if the hackers have breached their security it will mean that they will soon reappear! unfortunately holding coins on exchanges are exposed to this type of risk, it is not the first nor the last, to remember that binance was also hacked, mtgox and many others

[erikoy]

That would be good if all transaction was intercepted. If only hackers are good in stealth then they can't get compromised. Anyway, it is better intercepted than making hacker getting succesful. Gladly Kucoin has been so resilient in monitoring the activities of the hackers that lead to the success of interception. Damage had been minimized as OP had stated and that is the good thing. We cannot allow any more bad news to exchanges getting hack and etc.

[bryant.coleman]

This is actually surprising. Usually the hackers wait for a few years, before they cash out their loot. In this case they seems to be in a hurry. Not much has been done to hide the transactions by mixing the coins, and they are using the established exchanges to do the crypto-to-fiat conversion. Either the thieves are very experienced players, or they are over-confident noobs.