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A few days have passed since the China currency exchange was stolen by hackers. Today, it was reported that the KuCoin exchange was stolen. Has the security of second-tier exchanges become so bad now?
In the early morning of September 26, a Weibo blogger broke the news that a large number of coins were stolen in the Kucoin Exchange, 20 million usdt, 11 million amps, 8.8 million ocean, 7.2 million vidt, and 5 million dollars. dia, 5 million akro, 11,000 Ethereum.
The hacker’s address 0xeB31973E0FeBF3e3D7058234a5eBbAe1aB4B8c23 was exposed. After inquiring, the hacker’s account still had 11,480 Ethereum, valued at US$4.07 million and 150 million “altcoin” coins.
Then, the Kucoin Exchange issued an official announcement stating that some tokens such as Bitcoin and ERC-20 in hot wallets were transferred out of the exchange, worth about 4,800 Bitcoins, which accounted for about 5% of the total amount of funds held on the platform. The total amount involved is relatively low in the total amount of funds held by the Kucoin platform, user assets are still safe, and hot wallets have been re-arranged.
This is completely different from the stolen amount that was first revealed by the Weibo big V, and the stolen withdrawal address contained cryptocurrency assets worth 153 million U.S. dollars. This is obviously contrary to the official statement that the value of stolen is about 4,800 bitcoins, about “More than US$50 million” is totally inconsistent.
“I don’t know if it is because the private key has leaked all the wallets, so the newly opened wallet, Kucoin has collected all the funds since the early morning, this should be the newly-built cold wallet address”, and some netizens speculated that this is possible It is not the hacker address, but all the funds are collected to this address after the KuCoin is stolen.
But the strange thing is, is this the balance of Kucoin or the funds stolen by “hackers”? No official personnel came out to clarify.
In addition, compared with the previous hackers who split the coins into various cold wallets after stealing the coins, the behavior of cold processing is different. This hacker seems to be eager to cash out and break USDT into Binance and Matcha, which is interesting. Unexpectedly, it was not realized in the first time, and then it was directly frozen by these two exchanges.
Are hackers so stupid? After the theft, immediately rushed into the exchange without cash? Do you wait until everyone reflects it? Isn’t it done deliberately for everyone to see? After all, Kucoin can still be returned after freezing.
There is also an analysis by a big V that there are some unreasonable points in the currency theft. A large number of currency transfers are not triggered on the premise of risk control, unless the inside and outside should be combined. “Generally, the platform moves so much and starts risk control early.”
Indeed, the ability to transfer so many assets at once without triggering risk control is really impossible. If it is not self-directed and self-acted, then the technology of the Kucoin Exchange is too low, right?
It is worth noting that there have been a lot of people on the Internet who praised all the responsibility of the Kucoin transaction, responsible “Navy Operations”, and even stepped on the passive processing methods of the ZB China Currency Exchange.
In addition, it is worth mentioning that according to the data from Tianyan Check, the main company of Kubi: Kubi (Chengdu) Technology Co., Ltd., was cancelled as early as 2018.
Was it true that the money was stolen by hackers or was it self-directed and staged a marketing drama? The truth seems to be more and more inclined to the latter. However, regardless of the conclusion, the most important thing is that the user’s assets are not lost in the end. After all, every time an exchange is stolen, it will become a hot spot in the currency circle. Marketing is really eye-catching.