KuCoin Crypto Exchange Hacked for $150M Today

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Yeah nice reminder, online wallets are so fragile.
 
People don't learn. It happened before, happened now and will happen again. RIP to the traders who had their shit on the exchange at that moment and RIP to dummies who kept their shit on the exchange as in HODL.

Am I the only one who believes that if you come up with a proper scheme then there is a huge possibility that those weren't just some random hackers and the founders or at least insiders of all these "hacked" exchanges are involved?
 
Am I the only one who believes that if you come up with a proper scheme then there is a huge possibility that those weren't just some random hackers and the founders or at least insiders of all these "hacked" exchanges are involved?
Add some . or , in your text. It helps :D

But yes, you never know if it's an inside job or not.
 
I was lucky I got out of the platform couple of months ago I would have been 95% broke by now.

I feel Sorry for those who lost their money though. Anyway they got a lesson to learn.
 
Isn't this the second time KuCoin is hacked? Or am I mixing them up with someone else?
 
Wow this got to hurt..... Thank god I don't use Tier 2/3 quality exchanges.
 
But yes, you never know if it's an inside job or not.
man, this is always the worst part with that technical stuff, even in small scale. you never know if you can trust the seller/service provider. my father's business system gets hacked every 2 years or so, and each time we have to pay the system owner for a new license + installation. its been 3 times already. its around 800usd, but that's quite a bit of money here. problem is, we don't know whats hacked, where do they get in, if its the system fault, or our internet fault, anything.
 
man, this is always the worst part with that technical stuff, even in small scale. you never know if you can trust the seller/service provider. my father's business system gets hacked every 2 years or so, and each time we have to pay the system owner for a new license + installation. its been 3 times already. its around 800usd, but that's quite a bit of money here. problem is, we don't know whats hacked, where do they get in, if its the system fault, or our internet fault, anything.
This is solved if you use an open source code. Open source means every line of code is public. Anyone can read and modify it. That way you can be sure it is not malicious and it will be maintained by other developers.
 
This is solved if you use an open source code. Open source projects have every line of code public. Anyone can read and modify it. That way you can be sure it is not malicious and it will be maintained by other developers.
yeah, open source is great. in our case, my father only speaks Spanish, and needs a software that's quite particular to his type of business. so i cant really find him a replacement easily (i am not in the same city than his business either). we could work around that, but the real problem is that he is getting old and tired of bullshit, he doesn't want to learn new skills or deal with nitty-gritty stuff or half assed softwares, he just wants to work his last decades in peace. and since the business actually does quite well, he just rolls with the economic punches because he can afford it. and that's the kind of attitude that gets you scalped. he did swear that if it happens again and the provider doesn't give him at least a good discount on the new license, he will change software provider.
 
RIP to the traders who had their shit on the exchange at that moment and RIP to dummies who kept their shit on the exchange as in HODL.
Users will get back everything, no one will lose funds apart from KuCoin who are for sure insured against breaches like this.

Binance hack in 2019 - $40M, everyone got their funds back promptly. $150M was just was KuCoin had in their hot wallet.. they've already said users getting their funds back too.

Am I the only one who believes that if you come up with a proper scheme then there is a huge possibility that those weren't just some random hackers and the founders or at least insiders of all these "hacked" exchanges are involved?
You'd have to be pretty dumb to fuck with your own multi-billion dollar business and deliberately neg your own reputation.

Maybe an employee that works there, but it's easily possible that hackers breached KuCoin without inside help. A lot of smaller exchanges have been self-hacked for sure though.
 
Wow! I need to check my account! lol its was under $100 so not a big deal.
Sucks for those who had some big $$ there
 
If you don't have access to the private keys, the coins are not yours. Very sad that this keeps happening in the world of Crypto.
 
Interesting to see how well some exchanges handle hacks and how poorly others react!!
 
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