The Stolen Crypto is on its Way Back

in HODL2 years ago

After months of enduring one of the most egregious hacks in cryptocurrency history, the well-known "KuCoin" stage announced that it had virtually recovered all of the money obtained.

The CEO of the corporation expressed his condolences that not all customers were affected by the accident and would not bear any financial misfortune.

The KuCoin Stage gets the cash back:

Just as we provided details about Arab Bitcoins prior to September 2020, a group of anonymous attackers took advantage of hot wallets to trade cryptocurrency "KuCoin".

While the assessments showed that the amount taken was close to $ 160 million, other information revealed that the true figure was reportedly more than $ 200 million.

The "KuCoin" portal is assessed to be the third largest entry into the cryptocurrency market to this point.

In the wake of reaching legal organizations and bodies, KuCoin has gained a really fast ground by identifying the culprits and getting back 80% of the money obtained in less than two months.

"Johnny Liu" CEO of "KuCoin" shared more confident news in an open letter, in which the main authority confirmed that the stage has the option to recover all cash in parts. As a formula for what is indicated in the letter, accompanying:

Because of the endeavors of all the congregations at work, and through cooperation with accomplices, regardless of whether it was the exchange stages or crypto projects, we had the option of recovering $ 200 million and through additional engagement with legal and security institutions, we are prevalent in regards to recovering another $ 17 million.

Along these lines, the “KuCoin” phase ensured that no customer suffered any misfortune.

Moreover, KuCoin overhauled its safety efforts, to counter comparative attacks at a later time, according to its CEO.


KuCoin and looking forward:

Although the identified occasions were described with the rest and fruitful recovery of assets, the open letter contained a portion of the organisation's achievements and plans for the next few years.

KuCoin added some new blockchain missions to the list of accomplices, thus expanding the total number to over 200 projects.

In this way, Liu explained:

In 2020, our edge size expanded by 200% year-on-year and supported 30 digital currencies and 50 exchange groups.



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That why a trading exchanges needs to buy strong insurance and hire good security experts.