. . World news – US – KuCoin cryptocurrency exchange recovers more than half of the money lost in hacking $ 280 million. – Quinones

Cryptocurrency Exchange KuCoin recovered up to 84% of the funds lost due to the hacking in September, an encouraging sign to these clients affected by the theft.

The KuCoin cryptocurrency exchange succeeded in recovering up to 84% of the funds lost to the breach in September, an encouraging sign for clients affected by the theft.. In September, the cryptocurrency exchange was hacked with $ 280 million, leaving clients lacking their cryptocurrency stored on the exchange.. Now, KuCoin CEO and co-founder Johnny Liu said that they have succeeded in recovering the bulk of the money from those involved in the attack.. .

In a tweet, Liu said the recovery has been achieved through « approaches such as chain-tracking, contract promotion, and judicial redemption. ». He tweeted, “Latest updates on KuCoin security incident: So far, 84% of affected assets have been recovered via methods such as on-chain tracking, contract upgrade, and judicial recovery.. As required by law enforcement, we will publish all details once the case is closed. While law enforcement requirements restrict Lyu or KuCoin from providing details of the full refund process until the case is closed, Lyu said the exchange has now resumed services in exchange for 176 tokens via the platform..

(1/3) Latest updates about #KuCoin Security Incident: So far, 84% of affected assets have been recovered via methods such as on-chain tracking, contract upgrade, and judicial recovery. As requested by law enforcement agencies, we will publish all details once the case is closed.

The remaining crypto assets are expected to return online by November 22 as the exchange continues to recover from the breach. In September, the money stolen was mostly ERC-20 tokens, totaling $ 147 million – more than half of the total stolen amount.. The rest was split between $ 87 million in Stellar and $ 30 million in Bitcoin. About $ 160 million in lost funds were recovered within days through a combination of programmed contracts, republishing, and blocking specific wallet addresses linked to hackers..

KuCoin, Bitcoin and Cryptocurrency Exchange