A look at the third largest exchange hack and its aftermath

Quick Take

  • KuCoin suffered the third-largest hack in history after losing an estimated $279 million
  • The total amount stolen from exchanges has exceeded $1.79 billion with this hack
  • In the last two days, the hacker has already sold $6.5 million of the stolen assets on Uniswap
  • Whether a small exchange like KuCoin can weather a storm of this magnitude still remains to be seen
After hours of speculation, Singaporean exchange KuCoin admitted in a blog post released last Friday that it had “detected some large withdrawals” since September 26, 2020. “Some large withdrawals” turned out to be the third-largest exchange hack in history. The total amount based on the disclosed addresses is about $278.6 million at the time of […]

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