Cryptocurrency exchange KuCoin has resumed its deposit and withdrawal services for Bitcoin (BTC), Ethereum (ETH) and Ethereum-based Tether tokens (USDT) that were disabled after the recent $280 million hack, according to an announcement published today.
Prior to reopening the services, the platform performed a “wallet security strategy upgrade” for the corresponding coins. To further protect its customer’s funds, KuCoin also generated new deposit addresses for BTC, ETH and USDT.
“Though the old addresses are still available currently, it is recommended that you update your deposit addresses in time,” urged the exchange.
As Decrypt reported, KuCoin was hacked on September 26. At the time, the platform stated that the hackers used a leaked private key to access its wallets and steal roughly $280 million worth of cryptocurrencies. However, the exchange said that it can cover all the losses.
After the hack, various crypto projects vowed to freeze most of the stolen assets. Nonetheless, the hackers kept moving relatively substantial parts of their illicitly gained cache over the past couple of weeks, selling around $13 million worth of tokens in total by the end of September.
Recently, KuCoin CEO Johnny Lyu stated that the exchange had identified the hackers.
Lyu added that $204 million worth of crypto—or 72% of the total funds stolen—are "out of the control of the suspicious addresses."
Currently, KuCoin continues to gradually restore the deposit and withdrawal services for the remaining tokens, and “the full service of USDT will also resume soon,” the platform reassured its customers today.