The official Twitter account of the crypto exchange KuCoin has recently been compromised, leading to users losing their funds to a fake giveaway event. The crypto platform promised to reimburse the funds lost from the incident.
In an announcement, KuCoin confirmed that its Twitter was compromised for almost an hour on April 24, 8 AM ET. According to the exchange, the attackers posted a fake activity to lure KuCoin users into thinking that they were participating in an official event. So far, the exchange identified 22 transactions that were involved in the incident and pledged that they will be reimbursing the victims.