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...
Over the past week, bitcoin has dipped 4.18%, while ethereum has tumbled over 13% against the U.S. dollar. To make matters worse, a bunch of other digital currencies have taken an even bigger beating, with some plummeting by 20% or more. A Week of Double-Digit Losses for Most On Saturday, Dec. 21, 2024, the crypto […]
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