According to Coin Exchange CEO Johnny Liu, the trading platform has recovered 20 204 million in crypto assets since October 1. Exchange executives say hacking suspects have been found to prosecute and “police are officially involved”.
On September 25, 2020, the crypto community learned that a cocaine exchange had been hacked for a large number of assets. Estimates say 1,008 BTCs, 14,713 BSVs, 26,733 LTCs, 9,588,383 XLMs, Omni and EOS based Tethers (USDTs) stole 14 million, 3 153 million ethers and ERC 20, and more than 18 million XRPs. In the wake of the hack, Cucoi revealed that he is working with law enforcement and a number of blockchain projects to address the situation.
After more than $ 130 million was recovered from cocaine breaches in a large number of token projects, project developers criticized the centralization. Next, blockchain analytics company Elliptic published a report stating that hackers had spent more than $ 17 million on decentralized exchange (DEX) platforms. Elliptic noted that tokenlones, Uniswap and all hacker swaps on the Kiber network can be traced. On October 3, 2020, Coin Exchange CEO Johnny Liu updated the public regarding the security incident.
Liu, “A quick update after my last live stream on September 30th.” Tweeted. “After a thorough investigation, we have found the suspects in the cocaine security incident. Law enforcement officers and police are officially involved in prosecuting. With the overwhelming support of our partners in the industry, another $ 64 million of assets are now out of the control of suspicious addresses, bringing the total value from October 1 to 20 4,204 million. “
The cocaine CEO added:
Cocaine is returning to full functionality. My team and I will continue our best efforts to offset the impact of the incident. So far, a total of 31 tokens have been opened [for] Deposits [and] Withdrawal services, and more tokens including BTC, ETH, and USDT will follow.
At the time of release, it was not clear who the “suspects” were and whether they were in custody.
Community responses on Twitter welcomed Liuna’s tweet and re-awaited the opening of the deposit and withdrawal trading platform. Lu also thanked all the exchanges and blockchain projects that helped cocaine solve the security incident.
“A big thank you to all the organizations [and] The people who supported us at this crucial time – together, we will build a strong crypto world, “said Cocoin CEO.
What do you think of the cocaine CEO announcement? Let us know what you think in the comments section below.
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