• KuCoin recently suffered a Twitter hack, resulting in the loss of over 22,000 USDT for its users.
• The company was able to recover its account and promised to reimburse affected users.
• KuCoin also said it would boost security to prevent a similar incident in the future.
KuCoin’s Twitter Account Hacked
KuCoin recently suffered a Twitter hack, leading to losses of over 22,000 USDT for its users. The crypto exchange was able to regain control of its account after 45 minutes and promised to reimburse those affected by the fraudulent activity.
Reimbursement for Affected Users
Following the incident, KuCoin promised to reimburse affected users while it is carrying out investigations and blocking suspicious addresses. The platform also said it would boost security measures to prevent similar incidents from occurring again in the future.
Details of the Hack
The company identified 22 transactions related to the fraudulent activity, including ETH and BTC with a total value of 22,628 USDT. While only their Twitter account was compromised in this particular case, KuCoin affirmed that other social media accounts were safe from any such attack.
Security Enhancements by KuCoin
In order to fortify protection of their social media accounts, KuCoin announced plans for additional security measures beyond existing two-factor authentication (2FA). They are also conducting an extensive investigation along with Twitter so as not to experience similar issues again in the near future.
KuCoin experienced a brief but damaging hack that resulted in losses of more than $22 thousand worth of assets for its users. The crypto exchange acted quickly by regaining control of their account and promising reimbursement for all those affected by the incident while they work on blocking suspicious addresses and boosting security measures going forward.