Cryptocurrency exchange Kucoin may have been hacked for $150 million in bitcoin and multiple ERC20 tokens. The Singapore-based exchange confirmed the September 25 security breach, but did not disclose the amount stolen. “Bitcoin, ERC-20 and, other tokens in Kucoin’s hot wallets were transferred out of the exchange,” said Kucoin in an update on Saturday. Meanwhile, Bitfinex and Tether, issuers of the centralized stablecoin USDT , immediately froze a combined $33 million worth of USDT suspected to be part of the funds looted in the Kucoin hack – an action that has stirred questions around the influence of centralized platforms. Paolo Ardoino, chief technology officer of both entities, tweeted that Bitfinex froze $13 million USDT on EOS as part of the hack. Tether froze $20 million USDT “sitting on this ethereum address as a precautionary measure,” he said. In its update, Kucoin maintains that funds in its cold wallets (offline storage, which is less susceptible to hacks) ar...
Coinshares reported that digital asset inflows reached $2.2 billion last week, pushing year-to-date inflows to a record $33.5 billion. Crypto Boom: Bitcoin Leads $2.2 Billion Weekly Inflows, Ethereum Surges Back The latest exchange-traded product (ETP) surge was analyzed in the latest report led by James Butterfill, Coinshares’ head of research. The data from the digital […]
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