TechFlow news — According to an announcement by KuCoin Exchange, in the early hours of the 26th, KuCoin detected multiple large withdrawals of Bitcoin and ERC-20 tokens from its hot wallets. The total amount involved accounts for a relatively small proportion of KuCoin's overall holdings. Assets stored in KuCoin’s cold wallets were not affected. Meanwhile, KuCoin has promptly redeployed its hot wallets. The official statement emphasized that any user losses resulting from this incident will be fully covered by KuCoin and its insurance fund. A comprehensive internal security review is now underway, during which deposit and withdrawal services will be temporarily suspended. The resumption time will be announced separately. KuCoin stated it will release further details as soon as possible. Additionally, Johnny Lyu, CEO of KuCoin, will provide further updates via a live video stream on September 26 at 12:30 (UTC+8).
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