A hacker managed to hack the Twitter account of crypto exchange Kucoin before posting a fake promotion that caused some users to lose funds. The platform has promised to return the lost funds to the victimized users. Kucoin also reassures that only the Twitter account was hacked for 45 minutes and that the exchange is safe.
Kucoin loses control of its Twitter account for 45 minutes
Shaken by a complaint in the United States, the crypto exchange Kucoin is facing a completely different problem. While his official Twitter account is protected by a double authentication (2FA), the exchange announced to have lost control for nearly 45 minutes following a hack.
The hacker took the opportunity to publish a fake promotion via the official Twitter account of the exchange. Kucoin users who fell for the fake promotion and filled in their information were simply robbed of the funds. In total, 22 transactions with a total value of 22,628 USDT were triggered through this fake activity. Kucoin promises to return the funds stolen as a result of the hack on his Twitter account.
The exchange platform did not reveal how the hacker gained access to its Twitter account. It simply assured that in addition to two-factor authentication, it will strengthen the security of his account.
The exchange also encourages users affected by the hack to come forward. They can contact customer support or submit a request on the platform.
A Twitter hack only, reassures Kucoin
While memories of the collapse of FTX are still alive, Kucoin wants to reassure its users. The platform insists in particular on the fact that only the twitter account was hacked for a few minutes. The platform is intact and user funds are well secured.
However, Kucoin calls on its users to be careful. The platform asks in particular not to open any link impersonating its domain.
It is true that the crypto ecosystem is full of twitter accounts offering sometimes fraudulent giveaways. However, the theft of funds via this Kucoin hack is hardly detectable. Indeed, it was the official Kucoin account that published the fake promotion. It is therefore important to be extra vigilant before subscribing to promises of online crypto gains.
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