Kucoin's Twitter account hack led to wealth losses worth over $ 22,000

Kucoin's Twitter account hack led to wealth losses worth over $ 22,000

The Kucoin Twitter account was briefly compromised, which led to the users of the platform lost to hackers through fake activities over 22,000.

The crypto exchange was able to restore its account and promised to compensate affected users.

• kucoin revealed that Hacker took over his Twitter account on Monday, April 24th, to promote a fake activity. While the incident was short, the company said that there were 22 transactions in connection with fraudulent activity, including ETH and BTC, with which the value of the losses of a total of 22,628
• The crypto exchange has been restored since then, but emphasized that this was the only affected channel, which implies that the website and other social media accounts are safe.
• After the incident, Kucoin promised to compensate affected users while carrying out examinations and blocking suspicious addresses. The platform also said it would increase security to prevent a similar incident in the future.

5/ In addition to Twitters existing 2FA, the KUCOIN team will implement additional safety measures to increase the protection of our social media accounts. We also carry out a thorough examination of the incident with Twitter to prevent similar incidents in the future.

-Kucoin (@Kucoincom) 24. April 2023

• In the meantime, the latest development shows how Hacker continues to use prominent Twitter accounts to publish fake giveaways to steal people's money.
• As already reported by cryptopotato , Hacker kidnapped a Twitter account that Dante Dispafte, the Chief Strategy Officer from Circle, belonged to promote a fake USDC-Airdrop. Rogue actors also took over the Twitter handle from News24 to push an XRP airdrop. Robinhood was another victim who saw his Twitter account used to announce a token that was allegedly created by the platform.
• crypto owners are advised not to send tokens to people who promise to multiply the yields, and they should also exercise the needed care to avoid that suspicious links are opened, who try to issue themselves as the real ones.

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