Hackers briefly took over KuCoin’s Twitter account and promoted a fake activity, causing the platform’s users to lose over 22,000 USDT in fraudulent transactions. However, KuCoin was able to regain control of its Twitter account and has promised to reimburse affected users. The crypto exchange confirmed that the website and other social media accounts were not affected.
- KuCoin has identified 22 transactions associated with the fake activity, including ETH and BTC, with the value of the losses totaling 22,628 USDT.
- Following the incident, KuCoin has launched an investigation and is blocking suspicious addresses. The platform also plans to enhance its security measures to prevent future attacks.
KuCoin will implement additional security measures to fortify the protection of our social media accounts. We are also conducting a thorough investigation of the incident with Twitter to prevent similar occurrences in the future.
— KUCOIN (@kucoincom) April 24, 2023
- The incident is a reminder that hackers still use prominent Twitter accounts to steal crypto by offering fake giveaways. The recent victims include Circle’s Chief Strategy Officer Dante Disparte, News24, and Robinhood. To avoid falling victim to such scams, crypto holders are advised to carry out due diligence to avoid opening suspicious links.