More

    No, KuCoin Crypto Exchange Was Not Hacked: Here's the Latest Scoop

    A cryptic tweet sent by the CEO of KuCoin this morning led to a small frenzy in the crypto community.

    Specifically, Michael Gan (CEO of KuCoin) tweeted this:

    The statement reads:

    “Recently some other exchanges got invaded. Our security team monitored the hacker address at once and now we are trying to recover the stolen assets. I am here to call on all exchanges to pay attention to security construction, which is our main responsibility to users.”

    After this was initially tweeted, many users interpreted the message to be a subtle admission that KuCoin itself had been breached by hackers. It appears that the phrase, “Our security team monitored the hacker address at once and now we are trying to recover the stolen assets”, is what prompted most to make the assumption that KuCoin had somehow compromised.

    Replies to the initial tweet by Michael Gan were along the lines of:

    Later Clarification

    After much confusion and speculation, Michael Gan took to Twitter just a short while later to state that KuCoin had not, in fact, been hacked:

    Some Remaining Questions

    Despite this much needed clarification (to the relief of many), there were still lingering questions in the community about the nature of Gan’s first tweet.

    In specific, users were left wondering:

    1. What exchanges was Gan referencing when he stated that ‘some other exchanges got invaded’?
    2. What does Gan mean by ‘invaded’? Does this mean that there was a bug of some sort? A hack?
    3. Has Gan been in contact with the exchanges that were ‘invaded’?
    4. Does Gan plan on publicly releasing any information about these invasions for the benefit of customers that may be actively depositing their crypto assets at these exchanges? If not, why not?
    5. How much in assets, specifically, was lost and why was KuCoin a destination for these funds?
    6. What does Michael Gan mean when he states that KuCoin is ‘trying to recover the stolen assets’?
    7. What is the status of that asset recovery attempt?

    These questions are extremely valid and hopefully KuCoin/Michael Gan will take it upon themselves to disclose greater information in the future about these matters.

    Refusing to provide such information may lead the community to speculate even further about the nature of Gan’s tweets.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,292FansLike
    2,768FollowersFollow
    4,138FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Revolut Crypto Investing App Valuated at $5.5 Billion After New $500M Funding Round

    The UK-based digital bank Revolut is now valued at $5.5 billion, after raising $500 million in its latest series D funding round. Raising a...

    Bitcoin Becoming A “Currency of Choice” Will Push BTC Price Up 2,500% – Tim Draper

    Bitcoin correction may end up being more than that but we're in for an interesting ride Tim Draper still holding to his prediction...

    Cryptokitties Developer Dapper Labs Brings UFC Collectibles To Ethereum Blockchain

    Quick Read: CryptoKitties founder, Dapper Labs, partners with UFC to register fighters on the blockchain. The partnership allows users to buy, sell and trade...

    XRP Prints Bullish Golden Cross Pattern But Analyst More Concerned About Weekly Death Cross

    XRP going for a retest is a buy the dip opportunity XRP active addresses hit all-time high several times this month In cross-border...

    STEEM Community Launches Soft Fork To Limit Justin Sun’s Potential Voting Power

    STEEM blockchain prepares for a soft fork in light of the recent acquisition of Steemit, the most prominent platform on the blockchain, to prevent...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.