Read on Twitter
Seems @kucoincom is experiencing... issues.
$150M in funds was moved out of Kucoin to an unknown address.
$150M in funds was moved out of Kucoin to an unknown address.
Many reports of withdrawals being blocked.. 
https://twitter.com/Tytaninc/status/1309659153233850368
https://twitter.com/Tytaninc/status/1309659153233850368
A message from @kucoinmoderator a little earlier stating that they're aware of "deposit and withdrawal issues" https://twitter.com/KuCoinModerator/status/1309645520680308736
A message from 15m ago, again from @kucoinmoderator, claiming that user funds are safe. Presumably there's an imminent announcement from @kucoincom. https://twitter.com/KuCoinModerator/status/1309663330018107393
In the meantime, the confusion and lack of communication has led to KuCoin Shares ($KCS) price dropping by a notable amount.
src: https://www.coingecko.com/en/coins/kucoin-shares
src: https://www.coingecko.com/en/coins/kucoin-shares
Someone reports that their funds are gone.
Someone reports that their funds are still there.
Someone reports that their funds are still there.
KuCoin Telegram Admin recommends that no deposits or withdrawals should be initiated 'given the situation.'
What is the actual situation??
What is the actual situation??
FYI, these are the movements in question.
This address was sent $150M from KuCoin.
$4M worth of ETH and $146M in tokens in the span of a couple of hours, beginning 7 hours ago.
https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
This address was sent $150M from KuCoin.
$4M worth of ETH and $146M in tokens in the span of a couple of hours, beginning 7 hours ago.
https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23
Unfortunately, many do not understand how centralized exchanges work.
Not your keys, not your crypto.
Not your keys, not your crypto.
This transaction occurred 10 minutes ago:
from a KuCoin wallet to another wallet that someone commented (25 days ago) is a new KuCoin cold wallet.
https://etherscan.io/tx/0x0fa685dd0b695648260da4bc8454cd568e1a87a4df3404df2c983ecb657013de
from a KuCoin wallet to another wallet that someone commented (25 days ago) is a new KuCoin cold wallet.
https://etherscan.io/tx/0x0fa685dd0b695648260da4bc8454cd568e1a87a4df3404df2c983ecb657013de
No update as of yet. It's pretty disappointing that the funds first began moving nearly 8 hours ago and there has been no official statement.
Whether it's a hack, or an unannounced consolidating of wallets -- both are bad.
Whether it's a hack, or an unannounced consolidating of wallets -- both are bad.
UPDATE FROM @KUCOINCOM:
"We detected some large withdrawals since September 26, 2020 at 03:05:37 (UTC+8).
Please rest assured that if any user fund is affected by this incident, it will be covered completely by KuCoin and our insurance fund." https://www.kucoin.com/news/en-kucoin-security-incident-update
"We detected some large withdrawals since September 26, 2020 at 03:05:37 (UTC+8).
Please rest assured that if any user fund is affected by this incident, it will be covered completely by KuCoin and our insurance fund." https://www.kucoin.com/news/en-kucoin-security-incident-update
Looks like a confirmed @kucoincom hack.
"We detected some large withdrawals ... part of Bitcoin, ERC-20 and other tokens in KuCoinâs hot wallets were transferred out of the exchange, which contained few parts of our total assets holdings."
"We detected some large withdrawals ... part of Bitcoin, ERC-20 and other tokens in KuCoinâs hot wallets were transferred out of the exchange, which contained few parts of our total assets holdings."
KuCoin claims that they will be covering any user's funds that are lost.
@kucoincom CEO Johnny Lyu will be doing a livestream to address the incident at 12:30 (UTC+8), September 26, 2020.
That's in roughly 1.5 hours?
@kucoincom CEO Johnny Lyu will be doing a livestream to address the incident at 12:30 (UTC+8), September 26, 2020.
That's in roughly 1.5 hours?
