Security News > 2020 > September > $150 Million Stolen From Singaporean Crypto-Exchange KuCoin
Singapore-based cryptocurrency exchange KuCoin over the weekend announced that hackers managed to steal large amounts of cryptocurrencies from multiple hot wallets.
On Saturday, the exchange announced that it identified a number of large withdrawals in Bitcoin, ERC-20 and other tokens from its hot wallets, and that it launched an investigation into the matter, while suspending the deposit and withdrawal service.
In an update on Sunday, the exchange announced that it located some of the wallets to which funds were transferred and that it was working with partners to block them.
Large amounts of the stolen crypto-coins and tokens were frozen and wallets blacklisted, but more than $150 million-worth of Ethereum-based tokens were also transferred out of the KuCoin Ethereum wallets.
In a live stream on Saturday, KuCoin CEO Johnny Lyu revealed that the attackers gained access to private keys for the cryptocurrency exchange's hot wallets.