Kucoin Twitter account compromised, exchange promises reimbursements

Crypto exchange Kucoin’s Twitter handle was compromised for 45 minutes today — leading to asset losses for multiple users.

“Kucoin will fully reimburse all verified asset losses caused by the social media breach and the fake activity,” the exchange tweeted after regaining access to the Twitter account.

The exchange identified 22 transactions that interacted with the fraudulent tweets — resulting in a total loss of roughly 22,638 USDT. “To prevent more users from being harmed, we are currently examining and blocking suspicious addresses,” Kucoin tweeted.

Though Kucoin’s Twitter account was compromised, it claims assets on the exchange remain secure. It also claims to be “conducting a thorough investigation of the incident with Twitter to prevent similar occurrences in the future.”

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