Hackers Drain KuCoin Crypto Exchange’s Hot Wallets

Ada Hui and Wolfie Zhao of CoinDesk report:

An Asian cryptocurrency exchange’s funds have been compromised in a security breach.

The Singapore-headquartered digital asset exchange KuCoin said in a statement that it detected large withdrawals of bitcoin and ethereum tokens to an unknown wallet beginning at 19:05 UTC time on Friday.

In a live stream on 4:30 UTC time Saturday, KuCoin CEO Johnny Lyu said that one or more hackers obtained the private keys to the exchange’s hot wallets.

Read more on CoinDesk.

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