KuCoin’s Twitter Account Hack Led to Asset Losses Worth Over $22,000

The recent hacking of KuCoin’s Twitter account resulted in losses worth over $22,000 in assets for the cryptocurrency exchange. The attackers tricked users into transferring digital currencies to their own wallets, causing significant financial damage. KuCoin has since regained control of its Twitter account and is urging users to remain vigilant against similar scams. This news underscores the ongoing risk of cyber attacks in the cryptocurrency industry and highlights the importance of taking proactive measures to protect digital assets.

KuCoin Twitter hacked in fake giveaway scam

KuCoin, a cryptocurrency exchange, has confirmed that its Twitter account was briefly taken over by hackers in a fake activity scam that swindled users out of 22,000 USDT or approximately $22,000. The hackers used KuCoin’s Twitter account for 45 minutes to promote a false giveaway scheme on April 24. KuCoin has stated that its website and other social media accounts were not affected, and it has since recovered its Twitter account. The exchange has identified 22 transactions related to the scam, including ETH and BTC, with the total value of losses amounting to 22,628 USDT.

While investigations to track down the culprits are ongoing, KuCoin has assured its users that it will reimburse those affected. In addition, the exchange has increased its security measures, including additional two-factor authentication (2FA), to prevent similar incidents from happening in the future.

The KuCoin hack is just one of the many Twitter account takeovers by hackers that have been reported recently. In a similar incident, a Twitter account belonging to Circle’s Chief Strategy Officer was hijacked to promote a fake USDC airdrop. Rogue actors have also taken over News24’s Twitter handle, among others, to push fake giveaways. Robinhood’s Twitter account was another victim when it was used to announce the launch of a token purportedly created by the platform.

Crypto investors are advised to remain vigilant and practice due diligence when linking to Twitter accounts.

Title suggestions:
1) KuCoin Twitter Hack: $22K Lost in Fake Giveaway Scam
2) Crypto Twitter Hacks Continue: KuCoin Latest to Fall Victim to Fake Giveaway Scam

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