Kucoin CEO Johnny Lyu revealed on Wednesday that the exchange recovered 84% of the $280 million stolen in September, or $235 million, which is one of the largest hacks in the crypto industry.
in a tweetLyu stated that the affected funds have been “recovered through on-chain tracking, contract upgrades and judicial recovery. According to the requirements of law enforcement agencies, after the case is closed, we will release all detailed information.”
The Kucoin co-founder stated that the exchange has resumed trading of 176 tokens, and the rest will be reopened before November 22.
Hackers stole $30 million worth of Bitcoin (BTC) when they ransacked the exchange on September 25. They also snatched multiple ERC-20 tokens worth $147 million and Stellar tokens worth $87 million.
Soon after, Bitfinex froze USD 13 million USDT on EOS as part of the hacker, and Tether froze USD 20 million USDT in the hacker’s Ethereum address. Within a few days, 160 million US dollars were recovered from multiple platforms through various strategies.
However, by the end of September, cyber thieves had successfully cashed in tokens worth nearly $13 million, which were laundered through decentralized protocols. Seven days ago, the hacker became active again and used a mixer to move the ERC-20 token to another Ethereum address.
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