KuCoin CEO claims crypto exchange has identified suspected hackers
October 4, 2020, 12:16PM EDT
1 min read
Crypto exchange KuCoin announced this weekend that it has identified those responsible behind last month's multi-million dollar crypto hack.
As previously reported, KuCoin lost some $279 million in crypto due to the hack, with some of those funds ultimately being sold off via exchanges. Yet statements from Lyu indicate that the much of the funds were ultimately recovered, likely in part moves by blockchain projects and exchanges to freeze the movements of those funds.
In a thread, CEO Johnny Lyu wrote that the identifications had taken place "with substantial proof in hand."
A quick update since my last livestream on Sep 30.
After a thorough investigation, we have found the suspects of the 9.26 #KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take action.
Lyu said in another post that "[w]ith great support from our partners of the industry, another $64 million in assets are now out of the control of the suspicious addresses, bringing the total value to $204 million since Oct 1."
He added that the exchange is "coming back to fully functionality."