KuCoin hack.. $ 150 million in cryptocurrency stolen

KuCoin cryptocurrency exchange has been hacked and withdrawn $ 150 million worth of Bitcoin, Ethereum, and many other cryptocurrencies.

KuCoin confirmed that, as of late September 25, Bitcoin, ERC-20 tokens and other cryptocurrencies were pulled from hot KuCoin wallets out of the platform.

KuCoin maintains that it is only about its hot wallets while its cold wallets are safe.

Additionally, the platform said in statement:

"If any user is affected by this incident, it will be fully covered by KuCoin and our insurance fund."

The problem started when users started complaining about problems with the withdrawal process.

Initially, KuCoin's management team confirmed that they had a systems issue.

While a message belonging to one of the administrators of the KuCoin platform on the Telegram channel indicates that users should not withdraw or deposit money in light of the current situation.

The same admin said that transactions were simply pending.