Because the fallout from the hack on its platform continues, KuCoin mentioned it has recognized suspects and have now formally concerned legislation enforcement within the investigation.
KuCoin CEO Johnny Lyu tweeted on Oct. 3 that the alternate now has substantial proof that identifies who hacked the service on Sept. 26.
A fast replace since my final livestream on Sep 30.
After an intensive investigation, we’ve got discovered the suspects of the 9.26 #KuCoin Safety Incident with substantial proof at hand. Regulation enforcement officers and police are formally concerned to take motion.
— lyu_johnny (@lyu_johnny) October 3, 2020
Lyu added that as of Oct. 1, KuCoin has managed to wrestle one other $64 million in belongings from suspicious addresses with the assistance of its companions within the trade. This brings the whole worth of recovered belongings to $204 million.
The alternate can be slowly coming again to full performance, mentioned Lyu, and has reopened deposit and withdrawals for 31 tokens. Providers for BTC, ETH, and USDT will comply with.
The KuCoin hack is the primary main case of a decentralized alternate getting used to launder funds. It’s estimated that round $200 million in belongings had been stolen, however analysts worry extra tokens may’ve been comprised.