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.