The Ontario Securities Commission has initiated enforcement proceedings against the companies behind the KuCoin exchange.
KuCoin CEO Johnny Lyu has released an update that takes a look at the total damage of the September 25th KuCoin hack and how much money was recovered.
In total, $286,933,760 worth of digital currency and 200 pieces of customer data were stolen from digital currency exchanges in 2020.
KuCoin CEO and co-founder Johnny Lyu has said the firm has successfully recovered the bulk of the funds from those involved in the attack.
Over $8 million in funds that were stolen from the Sept. 25 KuCoin hack are on the move. According to reports, a portion of that money is being laundered.
$5.8 million worth of funds stolen from KuCoin during the September 25th KuCoin hack are being laundered through ChipMixer.
The exchange has also taken steps to recover some of the stolen coins in partnership with some of the digital currency projects.
KuCoin CEO Johnny Lyu, says that the hacker who breached KuCoin on September 25th and drained $275 from KuCoin hot wallets has been identified.
On September 25, KuCoin, the Singapore-based digital currency exchange, experienced a security breach in which $270 million was stolen.
Concerns over the digital currency exchange’s internal operations force courts to take action to prevent assets from disappearing.
KuCoin has launched a spin-off of the traditional over-the-counter desk targeting enterprises, helping them launch token programs, partnering with DigitalBits.