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KuCoin Hack Leaves Customers' Wallets Frozen While Thieves Attempt To Launder Funds

Emily Mason

Summary: KuCoin customers' wallets are still frozen as of Tuesday, September 29 after hackers stole millions worth of cryptocurrencies over the weekend. The exchange hackers are currently moving their stolen funds around. On Tuesday morning, 18.4 million XRP tokens ($4.5 million) moved into a hack wallet, according to Whale Alert. Less than an hour later the ...

KuCoin customers' wallets are still frozen as of Tuesday, September 29 after hackers stole millions worth of cryptocurrencies over the weekend.

The exchange hackers are currently moving their stolen funds around. On Tuesday morning, 18.4 million XRP tokens ($4.5 million) moved into a hack wallet, according to Whale Alert. Less than an hour later the funds were moved into a series of sub-wallets. 

Tracing firm Elliptic estimates that $281 million worth of cryptocurrencies were stolen in the KuCoin hack. The hackers are currently working to launder their stolen funds and have been largely unsuccessful on centralized exchanges, however they have managed to flip $7.5 million in Ethereum (ETH) on decentralized exchanges (DEX) Kyber Network and Uniswap, according to Elliptic.

By Emily Mason

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