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KuCoin to Refund Users Affected by Twitter Scam

After a short-lived Twitter hack led to a fraudulent giveaway event, KuCoin, a prominent centralized cryptocurrency exchange, has pledged to fully compensate users for their verified losses.

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.

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.

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.


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