Freeze, pause, reboot: Projects react differently to $200M KuCoin hack
Following news of a security breach resulting in the loss of more than $200 million worth of tokens on KuCoin, many projects quickly reacted to prevent users’ holdings from being moved off to other exchanges.
Speaking to Cointelegraph, KuCoin Global CEO Johnny Lyu said at least $129 million of the tokens affected in the breach and the (BTC), Ether (ETH), and ERC20 hot wallets impacted were “safe” or in a position to be recovered. Though reports initially stated hackers got away with $150 million in tokens, new estimates put the total closer to $200 million.
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