Johnny Lyu, co-founder and CEO of the hacked Singapore-based cryptocurrency exchange KuCoin, has revealed the trading platform recovered 84% of the assets that were stolen from it back in September.
KuCoin suffered a major security breach in September, in which a hacker managed to access its hot wallets and steal over $280 million worth of cryptocurrencies. The hacker is believed to have stolen over $147 million in various ERC-20 tokens, $87 million in Stellar tokens, and $30 million in bitcoin.
On social media, Lyu revealed that through “approaches like on-chain tracking, contract upgrade and judicial recovery” the trading platform has now recovered 84% of the funds stolen from it. At the request of law enforcement, it will only publish all of the case’s details once it’s closed.
He added that KuCoin has resumed services for 176 tokens and plans on resuming services for all remaining assets before November 22. It’s worth noting that after the KuCoin hack was made public, several projects with affected tokens quickly moved to either freeze or recover the funds.
Lyu’s post comes roughly a week after the Ethereum addresses associated with the KuCoin hacker moved millions of ERC-20 tokens to another address that, at press time, has little under 1 ETH in it, and over $13.6 million worth of ERC-20 tokens.
That address then moved some of the funds to another address with over $7.4 million worth of ETH in it, and $118 million of ERC-20 tokens. It’s unclear who these addresses belong to, although on Etherscan some have speculated they belong to KuCoin.
Featured image via Pixabay.
