{"id":29579,"date":"2020-10-04T10:23:53","date_gmt":"2020-10-04T07:23:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29579"},"modified":"2025-08-27T17:48:24","modified_gmt":"2025-08-27T14:48:24","slug":"kucoin-identifies-suspects-in-280-million-hack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kucoin-identifies-suspects-in-280-million-hack\/","title":{"rendered":"KuCoin identifies suspects in $280 million hack"},"content":{"rendered":"<p>The cryptocurrency exchange KuCoin says it has identified suspects in the recent <a href=\"https:\/\/u1f987.com\/en\/news\/kucoin-bitcoin-exchange-hacked-losses-estimated-at-150-million\">hack<\/a> of its platform and the theft of about $280 million.<!--more--><\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>&#8220;After a thorough investigation, we have found suspects in the incident on September 26 and have substantial evidence of their involvement. Law enforcement officials and police are involved for further steps,&#8221; said KuCoin CEO Johnny Lyu.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">A quick update since my last livestream on Sep 30.<\/p>\n<p>\\n<\/p>\n<p>After a thorough investigation, we have found the suspects of the 9.26 <a href=\\\"https:\/\/twitter.com\/hashtag\/KuCoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#KuCoin<\/a> Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take action.<\/p>\n<p>\\n<\/p>\n<p>\u2014 lyu_johnny (@lyu_johnny) <a href=\\\"https:\/\/twitter.com\/lyu_johnny\/status\/1312359615091277824?ref_src=twsrc%5Etfw\\\">October 3, 2020<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<p>He added that with the help of partners the exchange managed to secure an additional $64 million held at the attackers&#8217; addresses. The losses from the attack are now estimated at $204 million.<\/p>\n<p>\\n<\/p>\n<p>According to Lyu, KuCoin is returning to full operation. In the last 24 hours the exchange resumed deposits and withdrawals for 31 tokens. It is expected that BTC, ETH and USDT will soon be added to this list.<\/p>\n<p>\\n<\/p>\n<p>Davi Wan, a partner at Primitive Ventures, suggested that, judging by Lyu&#8217;s statement, insiders at the exchange could be involved in the hack.<\/p>\n<p>\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\"><p>\\n<\/p>\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">&#8220;We have found the suspects&#8221; hmmm so it\u2019s likely a group of insiders again? <a href=\\\"https:\/\/t.co\/Cawj3AFBim\\\">https:\/\/t.co\/Cawj3AFBim<\/a><\/p>\n<p>\\n<\/p>\n<p>\u2014 Dovey Wan \ud83e\ude90\ud83e\udd96 (@DoveyWan) <a href=\\\"https:\/\/twitter.com\/DoveyWan\/status\/1312370246125154305?ref_src=twsrc%5Etfw\\\">October 3, 2020<\/a><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>\\n<\/p>\n<p>Earlier, KuCoin <a href=\"https:\/\/u1f987.com\/en\/news\/kucoin-intends-to-reimburse-100-of-losses-to-users-affected-by-the-hack\">said<\/a> that the exchange would fully reimburse users affected by the hack, using funds from the insurance fund created in 2018 to protect traders&#8217; assets.<\/p>\n<p>\\n<\/p>\n<p>Initially, the loss from the hack was estimated at $150 million. Later, The Block analyst Larry Cermak <a href=\"https:\/\/u1f987.com\/en\/news\/analyst-estimates-kucoin-hack-damage-at-280-million\">speculated<\/a> that an unknown hacker stole nearly twice as much. However, he doubted that KuCoin would be able to cover the stolen funds through the insurance fund.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog FEED<\/a> \u2014 the full feed of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange KuCoin says it has identified suspects in the recent hack of its platform and the theft of about $280 million.<\/p>\n","protected":false},"author":1,"featured_media":29580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1154,1411],"class_list":["post-29579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-crimes","tag-kucoin"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29579"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29579\/revisions"}],"predecessor-version":[{"id":29581,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29579\/revisions\/29581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29580"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}