KuCoin Reassures Users After Twitter Breach and Promises Repay for Losses

KuCoin, a cryptocurrency exchange platform, announced on April 24 that their Twitter account had been compromised for about 45 minutes. During this time, a fake activity was posted, which unfortunately led to asset losses for some users. KuCoin has reassured its users that only its Twitter account was compromised and that its users’ assets on the platform are secure.

KuCoin has taken immediate action to retrieve control of its Twitter account from official Twitter support after the incident occurred. The platform has also promised to fully reimburse all verified asset losses caused by the social media breach and the fake activity.

As of 02:00 on April 24 (UTC+2), KuCoin has identified 22 transactions associated with the fake activity, including ETH/BTC, with a total value of 22,628 USDT. To prevent more users from being harmed, the platform is currently examining and blocking suspicious addresses.

In addition to Twitter’s existing 2FA, the KuCoin team will implement additional security measures to fortify the protection of their social media accounts. The platform is also conducting a thorough investigation of the incident with Twitter to prevent similar occurrences in the future.

KuCoin has promised to keep its users updated on the progress of the investigation. However, the platform has advised its users to refrain from opening any links that impersonate the http://kucoin.com domain to protect themselves.

In conclusion, KuCoin has assured its users that their assets on the platform are secure despite the recent social media breach. The platform has taken immediate action to retrieve control of its Twitter account and has promised to fully reimburse all verified asset losses caused by the incident. It is currently examining and blocking suspicious addresses and implementing additional security measures to fortify the protection of its social media accounts. Users are advised to refrain from opening any links that impersonate the http://kucoin.com domain to protect themselves.