KuCoin Twitter Hack Leads to Loss of Funds

In a recent incident, the official Twitter account of the cryptocurrency exchange KuCoin was compromised by hackers, resulting in the loss of funds for some users who fell victim to a fake giveaway event. According to KuCoin, the hack lasted for almost an hour on April 24, 8 AM ET. During this time, the attackers posted a fake activity on KuCoin’s Twitter account to lure users into thinking that they were participating in an official event. The exchange identified 22 transactions that were involved in the incident and promised to reimburse the victims.

KuCoin has urged the victims to contact them for assistance and promised to implement better security measures to prevent similar incidents in the future. The exchange is also collaborating with Twitter in conducting further investigations into the incident. Despite the unfortunate incident, some community members commended KuCoin for its quick response to the attack.

However, the KuCoin Twitter hack is just one of many incidents where hackers have taken over official Twitter accounts of crypto exchanges and NFT projects to promote scams. In September 2022, the Twitter account of the crypto exchange CoinDCX was compromised and used to promote fake XRP advertisements. Similarly, in January 2023, the Twitter account of the trading platform Robinhood was taken over by hackers who promoted a crypto token.

The incident involving KuCoin also highlights the need for better security measures in the Web3 space, particularly in nonfungible token (NFT) projects. In January 2023, the Twitter account of the NFT project Azuki was hacked, resulting in losses of $758,000 in just 30 minutes.

In conclusion, the KuCoin Twitter hack serves as a reminder for crypto exchanges and NFT projects to strengthen their security measures to prevent similar incidents from happening in the future. While KuCoin pledged to reimburse the victims and improve their security, it is important for other platforms to take proactive steps to protect their users’ funds and information.


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Crypto exchange’s Twitter gets hacked by ‘disgruntled employee’

The Twitter account of the Russian crypto exchange Latoken seems to have been breached by a hacher that started posting allegations that the exchange is a scam. According to the posts, the exchange is promoting “scam IEOs” and misleading their customers. 

The profile picture of the account was also changed into a scam warning image while the Twitter bio was edited to “LATOKEN is the leading SCAM platform!” According to the hacker, the exchange treats employees unfairly and also fires employees for no reason.

The hacker also accused the exchange of deliberately trying to “scam money out of projects” and promising 100% to 500% growth without delivering. The hacker also called Valentin Preobrazhensky, the founder of Latoken, a “liar” and a “face seller.”

Apart from LATOKEN, the official Twitter of LADEX, the company’s DEX project was also compromised. The hacker posted a video of an online meeting showing the Latoken CEO screaming curses at someone in the call.

The hacker also highlighted Trust Pilot’s review on Latoken which is only two out of five stars. However, a warning message in Trust Pilot says that the site detected misuse on Latoken’s page, stating that they have detected a number of fake reviews.

In response to the incident, Latoken’s official Telegram account published an update telling its users about the hack. The exchange said it believes the accusations to be the act of a “disgruntled employee” and that their team is in touch with Twitter support to fix the problem.

Related: Crypto.com breach may be worth up to $33M, suggests onchain analyst

Several crypto YouTuber accounts faced a series of hacks recently. Hackers posted videos that instructed viewers to send money to the hacker’s wallet using the accounts of famous personalities like Bitboy Crypto, Box Mining, Ivan on Tech, and even boxing superstar Floyd Mayweather. Luckily, many of the account owners were able to detect and remove the videos within minutes.

Back in 2020, a similar hack compromised the Twitter accounts of prominent individuals. The official accounts of Elon Musk, Kanye West, Bill Gates, and others were hacked by a Bitcoin thief who published posts claiming to double any crypto amount sent to a certai wallet address.