KuCoin’s Twitter account was briefly compromised, causing platform users to lose over 22,000 USDT to hackers through fake activity.
The crypto exchange was able to recover its account and promised to refund affected users.
- KuCoin revealed that hackers took over his Twitter account for 45 minutes to promote fake activity on Monday, April 24. Although the incident was brief, the company said it identified 22 transactions related to the fraudulent activity, including ETH and BTC, with the value of losses totaling 22,628 USDT.
- The crypto exchange has since recovered its Twitter account, but stressed that it was the only channel affected, implying that the website and other social media accounts were safe.
- Following the incident, KuCoin promised to reimburse affected users while it conducted investigations and blocked suspicious addresses. The platform also said it would tighten security to prevent a similar incident in the future.
5/ In addition to Twitter’s existing 2FA, the KuCoin team will implement additional security measures to strengthen the protection of our social media accounts. We are also investigating the incident thoroughly with Twitter to prevent similar events from happening in the future.
— KUCOIN (@kucoincom) April 24, 2023
- Meanwhile, the latest development shows how hackers continue to use prominent Twitter accounts to post fake giveaways to steal people’s money.
- As previously reported by CryptoPotato, hackers hacked a Twitter account belonging to Circle Chief Strategy Officer Dante Disparte to promote a fake USDC airdrop. Rogue actors have also taken over the News24 Twitter account to push an XRP airdrop. Another victim was Robinhood, who had their Twitter account used to advertise a token allegedly created by the platform.
- Crypto holders are advised not to send tokens to anyone promising to multiply returns and to do their due diligence to avoid opening suspicious links while trying to pass themselves off as the real ones.
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