KuCoin exchange restored its work after the September hack

Cryptocurrency exchange KuCoin has fully restored customer service after the hack, including depositing and withdrawing money. Some crypto assets have withdrawal limits.

Recall that on September 25, the exchange was attacked by hackers. The attackers withdrew crypto assets equivalent to $150 million at the time of the hack, and their current value is almost twice as high. According to a statement on the exchange’s website, two months after the hack, KuCoin managed to fully restore the normal operation of the platform.

According to the representatives of the exchange, due to the ongoing legal proceedings against some crypto assets, daily withdrawal limits will be set for them. These restrictions will be lifted after the investigation and legal proceedings are completed. At the same time, no trading commission will be charged for crypto assets that will be affected by the restrictions.

The KuCoin hack was one of the largest in the history of the cryptocurrency industry. Hackers obtained private keys from the exchange’s hot wallets and access to BTC, ETH, TRX, XRP, XLM and some ERC-20 tokens. KuCoin froze all wallets and stopped customer service. The exchange’s CEO, Johnny Lyu, said that all stolen customer funds will be “fully covered” by the insurance fund.

In the middle of the month, KuCoin was able to restore access to 84% of the stolen crypto assets worth about $236 million. In early October, the exchange’s team reported that they had discovered the attackers who had hacked the platform.