Earlier today, the official Twitter handle of the cryptocurrency exchange KuCoin was under attack for almost one hour.
The exploit led to the loss of about 22,638 USDT from several users and this is equivalent to $22,636. From analysis, 22 transactions were reported to have interacted with the malicious tweets. At the same time, KuCoin has assured users that its assets remain secured.
KuCoin now has full control of its blue bird social media account. All accounts affected by the Twitter attack and the fake activity will be reimbursed once they have been verified, according to the crypto exchange.
KuCoin Takes Caution And Blocks Suspicious Addresses
To avoid a recurrence or a similar turn of events, KuCoin decided to block any suspicious address. Additionally, there are plans to boost security on the exchange including reinforcing its two-factor authentication (2FA).
“To prevent more users from being harmed, we are currently examining and blocking suspicious addresses,” the digital asset service provider tweeted. Also, KuCoin is “conducting a thorough investigation of the incident with Twitter to prevent similar occurrences in the future.”
Twitter Account of Azuki, GOL TV Hacked in January
Social media platforms, especially Twitter, are becoming a breeding ground for cyber theft. At the beginning of this year, the official Twitter account of the American TV sports channel GOL TV was hacked by bad actors who intended to use it to propagate a Ripple scam. This was one of the many attacks disguised as Ripple-affiliated entities or even the Chief Executive Officer (CEO) Brad Garlinghouse.
Renowned Non-fungible token (NFT) project Azuki suffered a similar fate as KuCoin in January when its Twitter account was breached for only 30 minutes.
Within this short period, Azuki recorded a loss of more than $750,000 in digital assets. Precisely, $751,321.80 worth of USD Coin (USDC) was siphoned from one wallet, and another $6,752.62 in USDC was also stolen from several wallets.
Crypto Users To Take Caution Against Phishing Links
Users of crypto platforms have been warned severally to desist from clicking on unverified links as many hackers have been exploring the medium to cheat unsuspecting users of their funds. CoinDXC users were exposed to phishing links posted by hackers last year.
South Korean crypto exchange platform Gate.io users also had some phishing links sent to them through the official Twitter account of the exchange in October 2022.
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