KuCoin’s Twitter account was compromised for 45 minutes.
Twitter hackers got hold of over $22,000 worth of crypto assets.
KuCoin, the crypto exchange’s official Twitter account, was compromised for 45 minutes starting at 00.00 UTC+2 timezone. As per the tweet from KuCoin, the Twitter hack was performed by posting “fake activity”, which caused a number of crypto users to lose their assets.
1/ The @kucoincom handle was compromised for about 45 mins from 00:00 Apr 24 (UTC+2). A fake activity was posted and unfortunately led to asset losses for several users. KuCoin will fully reimburse all verified asset losses caused by the social media breach and the fake activity.
— KUCOIN (@kucoincom) April 24, 2023
So far, the exchange has identified 22 miscellaneous transactions with different assets, including BTC, ETH, and USDT. Etherscan transaction history reveals that the Twitter hackers got hold of over $22K in assets.
KuCoin has promised to reimburse all the verified assets that went missing due to the Twitter hack. The platform also verified the safety of all other social media accounts and is tightening up security. The crypto market has a history of Twitter hacks; from Elon Musk to Joe Biden, every high-profile personality’s account was hacked.
And for KuCoin, it is a tough phase, as it is already dealing with a lawsuit filed by the New York Attorney General. With this hack, the platform is going to start a complete investigation and enhance its Twitter account’s security constraint.