Kucoin Hacker Leverages Uniswap to Dump Vast Number of ERC20 Tokens
Since the recent Kucoin hack, the crypto community has been waiting for the hacker to move funds. During the early morning hours (ET) on Sunday, a number of people noticed the Kucoin hacker started to move a large amount of ERC20 tokens to connect with the decentralized exchange (dex) Uniswap. The cryptocurrency exchange Kucoin was hacked on September 25, 2020, and early estimates said the trading platform lost around $150 million. On Sunday, the estimate is a bit larger, as the crypto community thinks upwards of $200 million in crypto coins were stolen. Kucoin CEO, Johnny Lyu, explained....
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The cryptocurrency community has been discussing the Kucoin hack as a great number of ERC20 projects have frozen, paused, or reversed their smart contracts after the hack. Estimates say that at least $129 million ERC20 tokens affected are considered “safe” from the hacker’s clutches. Additionally, evaluations show the breach may be much larger than originally estimated, as one report says the compromise saw $280 million stolen. The Kucoin hack has been the talk of the town in crypto land these days, as the exchange was hacked on September 25, 2020. News.Bitcoin.com....
Are the KuCoin hackers DeFi noobs? After a major hack at KuCoin cryptocurrency exchange, cybercriminals continue to move stolen crypto to decentralized exchanges, or DEXes.According to data from crypto transaction tracking service Whale Alert, KuCoin hackers keep sending thousands of dollars worth of Synthetix Network Token (SNX) to Uniswap — the largest decentralized finance (DeFi) protocol by total value locked.On Sept. 28, the hacker completed another batch of transactions moving stolen funds from KuCoin and to major DEX Uniswap. According to data from Whale Alert, the hackers sent at....
On Sunday, Ocean Protocol conducted a hard fork from its old token address to prevent the KuCoin exchange hacker from continued unloading of stolen OCEAN tokens on decentralized exchange Uniswap.
KuCoin reported at least $129M of the affected funds are ‘safe.’ Following news of a security breach resulting in the loss of more than $200 million worth of tokens on KuCoin, many projects quickly reacted to prevent users’ holdings from being moved off to other exchanges. Speaking to Cointelegraph, KuCoin Global CEO Johnny Lyu said at least $129 million of the tokens affected in the breach and the Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets impacted were “safe” or in a position to be recovered. Though reports initially stated hackers got away with $150 million in tokens, new....
Cryptocurrency exchange Kucoin may have been hacked for $150 million in bitcoin and multiple ERC20 tokens. The Singapore-based exchange confirmed the September 25 security breach, but did not disclose the amount stolen. “Bitcoin, ERC-20 and, other tokens in Kucoin’s hot wallets were transferred out of the exchange,” said Kucoin in an update on Saturday. Meanwhile, Bitfinex and Tether, issuers of the centralized stablecoin USDT, immediately froze a combined $33 million worth of USDT suspected to be part of the funds looted in the Kucoin hack – an action that has....