KuCoin

KuCoin operates as a cryptocurrency exchange that provides a platform for users to trade various digital assets. The exchange facilitates real‑time transactions through internet‑connected hot wallets while also maintaining offline cold storage reserves for the safeguarding of user funds. Its headquarters are located in Singapore. KuCoin’s official social media channels, including its Twitter account, have been used to communicate with users and promote events such as cryptocurrency giveaways.

In September 2020, KuCoin reported a security breach in which attackers compromised its hot wallets and stole approximately $150 million worth of various cryptocurrencies. The breach was detected after unusual large‑scale withdrawals were observed, prompting the exchange to suspend deposits and withdrawals. KuCoin initiated a comprehensive security audit and stated that it would reimburse affected users using its offline cold storage reserves. The exchange planned to disclose further details about the incident through a live announcement by its chief executive officer. In April 2023, KuCoin’s official Twitter account was compromised and used to promote a fraudulent cryptocurrency giveaway. The scam directed users to a fake website, resulting in the theft of over $22,600 from those who sent funds. KuCoin identified 22 fraudulent transactions linked to the scam and pledged to reimburse verified victims for their losses. Following the Twitter account hijack, the exchange said it was working with Twitter to investigate the breach and was implementing additional security measures to prevent similar incidents.