- Amount Lost: $280,000,000.00
- Funds Returned: $280,000,000.00
- Category: CeFi
- Date: 2020-9-25
**Quick Summary **
Hackers managed to obtain the private keys to KuCoin's hot wallets and drain the exchange for various crypto assets in the amount of $280 million.
Details of the Exploit
This case lacks information with regard to the methodology hackers utilized in order to gain access to KuCoin's hot wallets. The hot wallet affected were designated for Bitcoin, Ethereum, and ERC-20 tokens.
Stolen funds included:
- 1,008 BTC ($10,758,404.86)
- 11,543 ETH ($4,030,957.90)
- 19,834,042 USDT-ETH ($19,834,042.14)
- 18,495,798 XRP ($4,254,547.54)
- 26,733 LTC ($1,238,539.89)
- 999,160 USDT ($999,160)
- $147M worth of ERC-20 tokens
- $87M of Stellar tokens
In an attempt to launder the ill-gotten funds, the attackers proceeded to use a mixture of DeFi protocols such as Kyber and Uniswap.
The CEO of KuCoin claims that through a mixture of on-chain analyses, judicial recovery, as well as contract upgrades, 84% of the stolen funds, had been recovered. The remaining losses were covered by KuCoin's own capital and insurance fund.
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