Projects block tokens stolen from KuCoin. Hacker chose DEX Uniswap for laundering

Subjected to a hacker attack on Friday, the KuCoin cryptocurrency exchange is preparing to resume depositing and withdrawing funds from its platform. This statement was made by its CEO Johnny Lyu, when he answered a question from one of the users. The hacker, meanwhile, proceeded to liquidate the assets despite coordinated attempts to prevent him.

“Per our current estimation, within a week, we will be gradually enabling the deposit and withdrawal service.”, – Lyu wrote.

KuCoin also posted updated information on the incident, including additional “suspicious addresses”. According to the latest data, the damage from the attack amounted to about $200 million in the following assets:

$ 153 million in ETH and ERC20 tokens;
1,008 bitcoins ($ 10.8 million);
26,733 LTC ($ 1.2 million);
18,495,798 XRP ($ 4.5 million);
14,713 BSV ($ 2.2 million);
9,588,383 XLM ($ 705,522);
228,952,838 in TRX ($ 6.3 million);
$ 14 million in USDT powered by EOS and Omni.

Lyu claims that this amount is only a small fraction of the total assets of the exchange. Currently, she continues to calculate the amount of damage and intends to fully settle with users.

“We have contacted many other major crypto exchanges, including Huobi, Binance, OKEx, BitMax and Bybit, as well as blockchain projects, security agencies and law enforcement agencies,” said Steph Burwell, administrator of the KuCoin group on Telegram. – Certain effective measures were taken. More details coming soon. ”

The team of the VIDT Datalink project announced that it will freeze the tokens found on suspicious addresses. The Silent Notary developers intend to re-issue SNTR to replace the tokens that have fallen into the hands of hackers. A similar decision was made by the Velo team. COVESTING developers also froze 3,126,692 COV tokens for a total of about $ 560,000. Paolo Ardoino, CTO of Tether and Bitfinex, wrote that they managed to block another 1 million USDT in the Omni system in addition to the 33 million USDT previously reported.

“Tether is not Bitcoin. Please understand the difference. Tether is a centralized stablecoin that acts as a faster layer for moving fiat on the blockchain. Tether can decide to freeze assets in two cases: law enforcement/regulatory request or sending funds to an unreachable address. This feature does not apply to users who participate in stupid scams or do not pay enough attention,” commented Ardoino.

Hudson Rock’s senior chief technology officer, Alon Gal, notes that the hacker has begun laundering the stolen funds through the Uniswap decentralized exchange, starting with the OCEAN token. Under his pressure, the price of OCEAN has dropped by 7% over the past two hours. According to the data in the blockchain, he still has OCEAN worth about $ 7.6 million at his disposal.

“I don’t think he will sell everything at once, because it will literally bring down the price completely,” Gal writes.

Ultimately, the Ocean Protocol developers have announced the termination of their contract. “On September 25-26, over $150 million in tokens was stolen from the KuCoin exchange. Among other things, 21 million OCEAN worth over $8.6 million were stolen. Since yesterday, we have been working to find a solution and regularly consult with KuCoin. As a first step to protect OCEAN token holders, we stopped the contract,” they wrote.

Be the first to comment

Leave a Reply

Your email address will not be published.


*