$281 million of an Asian cryptocurrency exchange’s funds have been compromised in a security breach.
It detected large withdrawals of bitcoin (BTC) and Ethereum (ETH) tokens to an unknown wallet beginning.
One or more hackers obtained the private keys to the exchange’s hot wallets.
KuCoin’s cold wallets were unaffected.
Two Ethereum wallets belonging to KuCoin have sent more than 11,480 ETH, which currently trades at a price of about $350, to the Ethereum wallet address associated with the hack.
The Ethereum wallet address had also received over 150 Ethereum-based tokens worth more than $150 million from the two KuCoin Ethereum wallets.
The price of KuCoin’s exchange token KCS fell by 14% to $0.86 within an hour.
Source: https://www.coindesk.com/markets/2020/09/26/over-280m-drained-in-kucoin-crypto-exchange-hack/
TPRM report: https://scoringcyber.rankiteo.com/company/kucoin
"id": "kuc22219123",
"linkid": "kucoin",
"type": "Data Leak",
"date": "09/2020",
"severity": "85",
"impact": "4",
"explanation": "Attack with significant impact with customers data leaks"{'affected_entities': [{'industry': 'Finance',
'location': 'Asia',
'name': 'KuCoin',
'type': 'Cryptocurrency Exchange'}],
'attack_vector': 'Obtained private keys to hot wallets',
'description': 'A security breach resulted in the compromise of $281 million '
'of an Asian cryptocurrency exchange’s funds. Large '
'withdrawals of bitcoin (BTC) and Ethereum (ETH) tokens were '
'detected. Hackers obtained the private keys to the exchange’s '
'hot wallets, while cold wallets remained unaffected. Two '
'Ethereum wallets belonging to KuCoin sent over 11,480 ETH, '
'worth approximately $350 each, to the hacker’s wallet. '
'Additionally, over 150 Ethereum-based tokens worth more than '
'$150 million were transferred. The price of KuCoin’s exchange '
'token KCS fell by 14% to $0.86 within an hour.',
'impact': {'financial_loss': '$281 million',
'systems_affected': 'Hot wallets'},
'motivation': 'Financial Gain',
'title': 'Cryptocurrency Exchange Security Breach',
'type': 'Security Breach',
'vulnerability_exploited': 'Compromise of private keys'}