KuCoin Twitter Hack: Exchange Promises to Compensate Affected Users
KuCoin, a cryptocurrency exchange, has confirmed that its Twitter account was hacked for approximately 45 minutes on April 24th. The hacker posted a malicious tweet offering a giveaway with a link to a phishing site using the official KuCoin Twitter handle. As a result, users lost funds amounting to 22,628 Tether (USDT) in 22 transactions through interactions with the phishing site. However, KuCoin has promised to reimburse all verified asset losses due to the breach and fake activity. The hack has prompted KuCoin to strengthen security measures of its social media accounts, including an additional layer of protection via two-factor authentication.