KuCoin has just been hacked😳😱 and it is the fourth crypto exchange biggest hack ever!
See the funds involved with the biggest hacks below:
Coincheck - $534 M
MtGox - $460 M
BiitGrail - $196 M
Kucoin - $156 M
It is very dangerous to keep large amount of Cryptos on an exchange because you don't own the Private key(s).
I often advise crypto enthusiast or traders to transfer funds to an exchange whenever they want to trade and withdraw it as soon as profits is made👌.
This is yet another blow to the Crypto world and it's coming at a time such as this, when the whole world is trying to recover from the Covid-19 pandemic.
Here's the snapshot of the address involved with the KuCoin "Heist" holding over $155 M tokens and over $4 M Ethereum.
How To Protect Your Cryptos
You can trade on exchanges but make sure you don't store your assets on an exchange wallet for long! Always transfer your profits to a secured or an offline wallet. Keep your crypto safe with Ledger Nano S or Nano X via http://bit.ly/2ueqiFA
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Easily start your crypto journey: buy crypto, secure your assets and manage them in one single-app.
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– The highest security standards: all our products integrate a certified secure chip and a custom OS to assure maximum security.
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I've been using Nano S for two years now and new coins are easily supported!
Till next time, Peace out!