KuCoin’s Twitter Account Hack Led to Asset Losses Price Over $22,000

KuCoin’s Twitter account was briefly compromised, inflicting the platform’s customers to lose over 22,000 USDT to hackers by faux exercise.

The crypto alternate was in a position to recuperate its account and promised to reimburse affected customers.

• KuCoin revealed that hackers took over its Twitter account for 45 minutes to advertise a faux exercise on Monday, April 24. Whereas the incident was temporary, the corporate mentioned that it recognized 22 transactions in reference to the fraudulent exercise, together with ETH and BTC, with the worth of the losses totaling 22,628 USDT.
• The crypto alternate has since recovered its Twitter account however pressured that it was the one channel that was affected, implying that the web site and different social media accounts had been protected.
• Following the incident, KuCoin promised to reimburse affected customers whereas it’s finishing up investigations and blocking suspicious addresses. The platform additionally mentioned it will enhance safety to stop an identical incident sooner or later.

5/ Along with Twitter’s present 2FA, the KuCoin crew will implement further safety measures to fortify the safety of our social media accounts. We’re additionally conducting a radical investigation of the incident with Twitter to stop comparable occurrences sooner or later.

— KUCOIN (@kucoincom) April 24, 2023

• In the meantime, the newest improvement reveals how hackers proceed to make use of outstanding Twitter accounts to put up faux giveaways to steal individuals’s cash.
• As beforehand reported by CryptoPotato, hackers hijacked a Twitter account belonging to Circle’s Chief Technique Officer Dante Disparte, to advertise a faux USDC airdrop. Rogue actors additionally took over News24’s Twitter deal with to push an XRP airdrop. Robinhood was one other sufferer, which noticed its Twitter account getting used to announce a token purportedly created by the platform.
• Crypto holders are suggested to not ship tokens to anybody promising to multiply returns and must also perform due diligence to keep away from opening suspicious hyperlinks attempting to impersonate the actual ones.