KuCoin resumes deposits, withdrawals for Bitcoin, Ether after recovering most of the $281M stolen by hackers


KuCoin, a cryptocurrency exchange based in Seychelles is resuming the deposits and withdrawals for Bitcoin (BTC), Ether (ETH), and the Tether (USDT) stablecoin after temporarily freezing all wallets and most of its services due to the massive hacking of its platform on September 26.

The resumption of most of its services comes after KuCoin announced last week that it identified the hackers who stole $281 million worth of cryptocurrencies. The cryptocurrency exchange already recovered a total of $204 million of the stolen crypto assets.

KuCoin completes wallet security strategy upgrade

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In a service update on Wednesday, KuCoin said it is finished upgrading its wallet security strategy for Bitcoin (BTC), Ether (ETH), and the Tether (USDT) stablecoin. The deposit and withdrawals for these crypto-assets are back online.

KuCoin also informed users that BTC, ETH, and USDT “have all generated new deposit addresses and though the old addresses are still available currently.” It is encouraging users to “update your deposit address in time.”