KuCoin’s Twitter Accound Was Compromised

Official announcement writtern hacked

Some users lost their digital currencies as a result of a hack on the official Kucoin Twitter account.

Cryptocurrency exchange firm KuCoin has revealed that its Twitter handle, which was briefly tampered with by suspected hackers, was recovered successfully after about 45 minutes.

KuCoin made this disclosure via its authorized Twitter account. In addition, the exchange firm noted the value of assets lost due to the compromise and promised to compensate every affected party.

Analyzing Transactions Involved During the Cyber Attack

According to the announcement on KuCoin’s authentic Twitter handle, the exchange company singled out about 22 transactions in which Bitcoin and Ethereum transactions were also affected, summing up to a 22,628 USD loss.

However, in a bid to assure users of the security of their assets in KuCoin, the platform has stated that it remains committed to ensuring that all parties involved in the unfortunate incident are duly rewarded for any losses encountered during the compromise.

How Kucoin will Forestall Similar Future Occurrences

Apart from the compensatory package, KuCoin also revealed that its cyber security unit is currently carrying out investigations that will oversee the removal of every suspicious account on the exchange company’s platform.

Also, the exchange company, in collaboration with Twitter, will be working on security plans to strengthen the security of its social media accounts.

What the Platform Expects from Its Users

KuCoin urged its users to remain calm, as the platform will regularly give an update on the progress of its investigations. More importantly, users are encouraged to avoid any link that seems to replicate the Kucoin.com domain in the meantime.

Reiterating its commitment to compensating affected users of the KuCoin platform, the exchange company has directed this set of individuals to contact KuCoin’s support team via its official website, “support@kucoin.com.” Alternatively, affected individuals can also submit a direct ticket to KuCoin’s desk by clicking on KuCoin’s official desk link. It also restrained its users from taking advice from fraudulent channels or individuals that may be hoping to take advantage of the ugly situation.

In all, the exchange company did not fail to appreciate its users for their continuous support and hopes the support continues as they seek a way to navigate through the disastrous event that befell the company.

Author: Chinedu Peter

Chinedu Peter is a medical student who loves writing and hopes to take his writing skills to the next level by constantly creating content revolving around cryptocurrency, blockchain, technology innovations, etc.