June 16, 2024

Member of the KuCoin community is suspected of fraud and theft of crypto assets

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Member of the KuCoin community is suspected of fraud and theft of crypto assets

Cryptocurrency exchange KuCoinreported that during the investigation it turned out that one of the trading platform’s regular customers may be behind the hacking of a Twitter account and the theft of crypto assets.

In press comments, cryptocurrency exchangeKuCoin stated that the wallet address belonged to one of its users. The primary reason for conducting an internal audit of the exchange was an appeal to the KuCoin administration on Twitter from a user under the nickname @CoinGurruu, who reported the discovery of a suspicious crypto-wallet.

However, the administration of the trading platformstated that it will not take any restrictive measures against the owner until it receives appropriate notification from law enforcement agencies.

“Although the address really belongs to oneof platform users, the account will not be blocked. We plan to take appropriate action following cooperation with law enforcement authorities, in accordance with user agreements and Seychelles laws,” said KuCoin CEO Johnny Lyu.

As it became known to the media, blockchain explorer Etherscan has now flagged the specified address as a fake phishing wallet.

At the beginning of the week, attackers hacked
Twitter account of the KuCoin cryptocurrency exchange, and then published fraudulent links and messages, which led to the loss of users' crypto assets amounting to more than $22,000.