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Kucoin, one of the leading crypto exchanges, suffered a hacking incident in 2020 where over $250 million was stolen. However, immediately after the hacking was reported, Kucoin began cooperating with various players from the crypto industry. This cooperation ultimately led to the recovery of a large chunk of the stolen funds. Kucoin’s Recovery From Attack […]Powered by WPeMatico
A preliminary report from a United Nations inquiry suggests North Korea is using the proceeds from crypto hacks to funds its weapons programs.
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The number of stolen bitcoins that were publicly reported in 2020 dropped to 4,472 coins or 0.02% of the digital asset’s circulating supply. This new figure represents a 92% drop from the 56,870 reported in 2019. When using current bitcoin prices, the 2020 thefts caused losses that are equivalent to $140 million versus the 2019 […]
The post The Reported Number of Stolen BTC Drops by 92% as ‘Bitcoin Security Appears to Be Improving’ appeared first on Bitcoin News.
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According to the Kucoin exchange CEO Johnny Lyu, the trading platform has recovered $204 million in crypto assets since October 1. The exchange executive says the hacking suspects have been “found” and the “police are officially involved” in order to take action. On September 25, 2020, the crypto community found out that the Kucoin exchange […]
The post Kucoin CEO Says Exchange Hack Suspects ‘Found,’ $204 Million Recovered appeared first on Bitcoin News.
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Elliptic says the Kucoin hacker has sold $17.1 million worth of tokens via decentralized exchanges (dex) platforms like Uniswap, Kyber Network, Tokenlon. The shift to dex applications comes after centralized projects came to the aid of the beleaguered exchange by blocking any cashing out of the hack related funds. For the past few days, the […]
The post Kucoin Hack: $17M Laundered Via Decentralized Exchanges, Blockchain Analysis Firm Claims This Can Still be Traced appeared first on Bitcoin News.
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The cryptocurrency community has been discussing the Kucoin hack as a great number of ERC20 projects have frozen, paused, or reversed their smart contracts after the hack. Estimates say that at least $129 million ERC20 tokens affected are considered “safe” from the hacker’s clutches. Additionally, evaluations show the breach may be much larger than originally […]
The post Token Projects to Recover $130M from the Kucoin Hack, Devs Condemned for Centralization appeared first on Bitcoin News.
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Since the recent Kucoin hack, the crypto community has been waiting for the hacker to move funds. During the early morning hours (ET) on Sunday, a number of people noticed the Kucoin hacker started to move a large amount of ether and ERC20s to connect with the decentralized exchange (dex) Uniswap. The cryptocurrency exchange Kucoin […]
The post Kucoin Hacker Leverages Uniswap to Dump Vast Number of ERC20 Tokens appeared first on Bitcoin News.
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Cryptocurrency exchange Kucoin may have been hacked for $150 million in bitcoin and multiple ERC20 tokens. The Singapore-based exchange confirmed the September 25 security breach, but did not disclose the amount stolen. “Bitcoin, ERC-20 and, other tokens in Kucoin’s hot wallets were transferred out of the exchange,” said Kucoin in an update on Saturday. Meanwhile, […]
The post Kucoin Hacked for $150 Million in Bitcoin; Bitfinex and Tether Freeze $33 Million of the Stolen Funds appeared first on Bitcoin News.
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