Quick Response to the Twitter Breach
On April 24, KuCoin’s official Twitter account was hijacked for nearly an hour, starting at 8 AM ET. The attackers deployed a false promotional campaign, tricking users into believing they were participating in a legitimate event. KuCoin has identified 22 transactions linked to the incident and vowed to reimburse the affected individuals.
3/ Until 02:00 Apr 24 (UTC+2), we have identified 22 transactions including ETH/BTC associated with the fake activity, with a total value of 22,628 USDT. To prevent more users from being harmed, we are currently examining and blocking suspicious addresses.
— KuCoin (@kucoincom) April 24, 2023
Collaboration with Twitter and Improved Security
In response to the breach, KuCoin is working closely with Twitter to investigate the situation further. Additionally, the company is committed to enhancing security measures to prevent similar attacks in the future.
5/ In addition to Twitter's existing 2FA, the KuCoin team will implement additional security measures to fortify the protection of our social media accounts. We are also conducting a thorough investigation of the incident with Twitter to prevent similar occurrences in the future.
— KuCoin (@kucoincom) April 24, 2023
Victims Urged to Reach Out for Assistance
KuCoin is encouraging those who fell victim to the fake giveaway to contact them for support. One user, who claims to be among the first to participate in the fraudulent event, commended the exchange’s swift response to the attack.
Twitter Crypto Scams on the Rise
On January 25, Robinhood’s Twitter account was taken over, promoting a dubious crypto token.
Key Points
What happened to KuCoin’s Twitter account?
On April 24, KuCoin’s official Twitter account was hacked for nearly an hour, during which the attackers launched a fake giveaway event to defraud users.
How is KuCoin responding to the incident?
KuCoin has pledged to reimburse all verified losses and is working with Twitter to investigate the attack. The company is also committed to improving its security measures to prevent future breaches.
Have other crypto exchanges experienced similar attacks?
Yes, Robinhood have had its Twitter account hacked in recent months, with attackers promoting fraudulent tokens.
