KuCoin Has Found The Hackers Who Stole $281 Million

[rodskee]

not until the hacker has been bring behind bars then this news still nothing.

And Mind the next time you COPY PASTE the topic,Please do not Include the advertising or downloading their Apps,because this comes to be a referring .

Looking forward what will be the outcome of this hacking because this is really important in our time now how to track the hackers.

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[oleg8791]

Kucoin made the great work and it took them a couple of weeks. In comparison Bitfinex couldn't recover 120,000 Bitcoin stolen in 2016. I'm interested if Kucoin will be able to get all $281M back?

[cryptomaniac_xxx]

This is just the beginning, they only track the address and not the person itself. Unless the hacker has passed his documents to exchanges for KYC. But criminals are too clever, I will not be surprised if he just used fake documents here.

So it might take years to pursue this criminals and it will be difficult to arrest them if they stay on some rogue nation that does not cooperate with Interpol or Western authorities.

[larus]

How they found him? Is he should to return everything now?

[Mpamaegbu]

This is wonderful news but I am not surprised they find the hacker because I have already make some research about the hacker token movement and I find that he moved some of the token to Okex and Binance exchange which is a centralized exchange.
I think that's where they nab the hacker.

Of course, they would easily nab the hacker with that. Moving the assets to those exchanges was the slip we all hoped for and if it's a verified account then it's easier nailing the suspect as the KYC documents to the account used will be traced to them. Initially, I thought the hacker was smarter by dumping on Dex. Good a thing something gave them away. And for those of us here who readily submit personal data as KYC doc for bounties and airdrops, you can now see the danger you expose yourselves to if a project team eventually exits a scam? The hacker could even have used such a document for verification on those exchanges and the real owners would be in danger now. Be wise, people.

[davis196]

Even if they found the hackers,the lawsuit will take years and the stolen funds might never be recovered.
This seems more like a PR move,rather than actual good news for the Kucoin investors,who have lost their coins.
By the way,is this forum post some kind of advertisement?What is this Decrypt app?If you want to promote a Crypto news app,you could post a forum thread in a more suitable sub-forum.
The crypto industry is still at a very early stage and hacks and scams are still a big problem,but I think that crypto trading platforms will become more and more secure,year after year.
 

[btc78]

Then this is something to follow because until they really catch the hackers people in crypto will still prevent from using their service and also think twice before using exchange.
hacking is something that happening for many years now but still even the Biggest exchange becomes a victim.

Even if they found the hackers,the lawsuit will take years and the stolen funds might never be recovered.
This seems more like a PR move,rather than actual good news for the Kucoin investors,who have lost their coins.
By the way,is this forum post some kind of advertisement?What is this Decrypt app?If you want to promote a Crypto news app,you could post a forum thread in a more suitable sub-forum.
The crypto industry is still at a very early stage and hacks and scams are still a big problem,but I think that crypto trading platforms will become more and more secure,year after year.
 

it doesn't need the funds must be recover instantly because the main thing here is that Hackers must be punished so others will think again if they will follow this strategy or will stop with their monkey businesses.

[molsewid]

not until the hacker has been bring behind bars then this news still nothing.

And Mind the next time you COPY PASTE the topic,Please do not Include the advertising or downloading their Apps,because this comes to be a referring .

Looking forward what will be the outcome of this hacking because this is really important in our time now how to track the hackers.

This news is quite good for the users of KuCoin. At least right now, the case has progressed. The KuCoin confirmed that they have substantial evidence, and not all exchanges can cover all of its losses. I think it's favorable to all and expect that many would trust KuCoins after this tragedy. Hoping all exchanges can do the same when they got hacked.

[MCobian]

CEO Johnny Lyu gave updates regarding the hackers who stole $ 281M, only to appease KuCoin investors who were affected by the incident.
By providing a statement on twitter about the development of the hack case, as a way to make investors believe that their funds are safe.
In fact,KuCoin doesn't know the identity of the hacker who managed to steal from KuCoin. So for me, this news has not shown any significant
development, it's only limited to knowing the hacker's address. Hopefully in the near future, KuCoin can immediately get the hacker's identity.

[Yamifoud]

CEO Johnny Lyu gave updates regarding the hackers who stole $ 281M, only to appease KuCoin investors who were affected by the incident.
By providing a statement on twitter about the development of the hack case, as a way to make investors believe that their funds are safe.
In fact,KuCoin doesn't know the identity of the hacker who managed to steal from KuCoin. So for me, this news has not shown any significant
development, it's only limited to knowing the hacker's address. Hopefully in the near future, KuCoin can immediately get the hacker's identity.

We are hopeful to see it by then but that didn't seem so easy to track them down and paid their doings. We can't also underestimate these hackers coz they are probably on the goal to keep them untraceable to the authorities. But the problem is, the closer it gets to know who are they, the closer also the funds gone forever.
The hotness of this hacking sentiment will soon to rotten and forgotten by many, and I believe that KuCoin owner will recover their losses.

[bryant.coleman]

Any new development on this topic? If they actually manages to get hold of the hackers, then it will be an exception. We had dozens (if not hundreds) of exchange hacks since 2014 and not even once the actual perpetrators were captured and the stolen funds were recovered. I just hope that this time they manage to get hold of the thieves and make an example out of them. Even if they manage to recover a part of the funds, it is going to be huge.

[acroman08]

Any new development on this topic? If they actually manages to get hold of the hackers, then it will be an exception. We had dozens (if not hundreds) of exchange hacks since 2014 and not even once the actual perpetrators were captured and the stolen funds were recovered. I just hope that this time they manage to get hold of the thieves and make an example out of them. Even if they manage to recover a part of the funds, it is going to be huge.

here are the latest articles I could find in the last 24 hours. I haven't read them yet but since you are looking for latest updates you might be interested in it.

https://news.bitcoin.com/kucoin-ceo-says-exchange-hack-suspects-found-204-million-recovered/
https://cointelegraph.com/news/kucoin-ceo-claims-hacking-suspects-identified
https://www.coindesk.com/kucoin-ceo-says-perpetrators-of-281m-hack-identified-authorities-on-the-case

[cheezcarls]

The headline from Decrypt was a clickbait indeed. I thought that they've revealed the names of the hackers who stole more than $150 million worth of crypto on KuCoin. To be honest, I'm a bit pissed off. They only traced the addresses, but never revealed the names of the hackers in public? I don't know why though.

Maybe they only knew the addresses they've traced, but never knew the real identity of these hackers? If they indeed "identified" the hackers by their names and photos, they just simply mention them in public so that everybody could help trace their whereabouts.

[TopTort777]

In russian press, it is mentioned, that this hacker was one of Kucoin employees (not metioned, current or former).
If this true, theb finding him will be just a matter of time. The number of suspects are greatly narrowed.

[Baskeyairdrop]

I believe they only published this to reassure their subscribers that they can still be trusted. Even though they had a security beach, they were able to narrow the hackers down meaning that they have a good cyber team.
Nevertheless, their reputation have been dented and by so doing they would loose a lot of trust from customers.
That amount that was hacked out of their system was really huge... Really careless of them though...

[Ryker1]

Well, as I see here, --the hacker is quite dumb because of the reason moving his hacked crypto to the centralized exchange which the hacker thought he will never get identified. A good thing to the Kucoin exchange, the hacker knows how to hack but I think hacker did not know how crypto will work and the possibility of being traced once you will link to the centralized exchange. Users now of that exchange are happy to see that Kucoin now is back operation. I hope Kucoin will learn from this mistake and will n0ot repeat in the future.

[uray]

Kucoin made the great work and it took them a couple of weeks. In comparison Bitfinex couldn't recover 120,000 Bitcoin stolen in 2016. I'm interested if Kucoin will be able to get all $281M back?

The main difference is bitcoin is decentralized while the rest of the coins and tokens does not follow the same principle even though they claim decentralized . Even in this instance the website has not revealed any names that could identify the hacker and if they got all the details then why the delay in publicly telling his name and expose him.

[BlackFor3st]

I hope that they can find the genuine hacker at put it in prison so they cannot hack any wallet anymore, a hacker will remain a hacker knowing that they can easily
get a free money to it.

$281 million is a very huge money especially if it was being hack by a single person only so it will be very helpful if they can be put them in prison one by one so we can
feel safe to our money in any wallet.

[kryme]

Investigations take time. I provided information to the FBI about some scammers. We are two years into it still. If they moved the coins to Binance, IPs will be tracked quite easily. Binance didn't even require a warrant to give info the FBI. All they required was official letterhead and an official fbi.gov email address.  If they did ID the hackers, you think they're going to make those names public before they've been arrested by the proper authorities?

[MShow]

I hope that they can find the genuine hacker at put it in prison so they cannot hack any wallet anymore, a hacker will remain a hacker knowing that they can easily
get a free money to it.

$281 million is a very huge money especially if it was being hack by a single person only so it will be very helpful if they can be put them in prison one by one so we can
feel safe to our money in any wallet.

Hackers generally enrage me, the most unpleasant thing is that they are everywhere. It is also very unpleasant that they are really difficult to calculate unless they make a mistake in their operation, as in the news where a hacker threatened his victims with a SIM card that was registered in his name. I think we need to pay more attention to security and countering hackers