KuCoin Hack
What happened
KuCoin detected abnormal hot-wallet transfers on September 26, 2020. Its retrospective valued 154 affected tokens at approximately $285 million. KuCoin reported recovering $239.45 million through partners and authorities, with the remaining $45.55 million covered by KuCoin and its insurance fund.
KuCoin attributed the transfers to hot-wallet private-key leakage following an internal-network intrusion.
How it happened
- According to KuCoin, a prolonged intrusion into its internal network exposed private keys for several hot wallets.
- Attackers transferred assets from those wallets.
- KuCoin replaced the wallets and coordinated recovery with projects, exchanges and authorities.
- The company covered the remaining shortfall; this reimbursement is distinct from recovered stolen assets.
Protocol details
Funds Recovery
Recovered
$280.0M
Net Loss
$5,130,000
Evidence
- report Post-mortem rekt.news
- report @lyu_johnny incident report twitter.com
- analysis News reference news.bitcoin.com
- analysis DeFiLlama defillama.com
- analysis A Letter from KuCoin CEO: 2020, 2021 and Beyond kucoin.com
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