KuCoin hack
About $281M in crypto was stolen from the Singapore-based exchange KuCoin in September 2020 after attackers obtained hot-wallet private keys. Chainalysis attributed the theft to North Korea's Lazarus Group; KuCoin recovered roughly 84% of the assets.
Also known as: KuCoin, KuCoin hack
Summary
In September 2020, attackers drained roughly $281 million in cryptocurrency from the exchange KuCoin — one of the largest exchange thefts to that point. KuCoin's CEO said the attackers had obtained the private keys to the exchange's hot wallets. [1][2]
Attribution and recovery
Blockchain-analysis firm Chainalysis attributed the hack to the Lazarus Group, a North Korea-linked actor, based in part on a recognizable laundering pattern. KuCoin said it ultimately recovered about 84% (~$236 million) of the stolen funds through on-chain tracking, contract upgrades and token freezes by project teams, and law-enforcement cooperation, and covered the remainder via its insurance fund. [1][2][3]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (3)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
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