After Hack – KuCoin takes another big step back to normal

KuCoin crypto exchange switches all deposits and withdrawals on again and slowly normalizes its operations again.

After a serious hacker attack in September, the crypto exchange KuCoin took the last step to fully restore its systems today

Accordingly, she writes in a blog entry today that „Deposits and withdrawals for all cryptocurrencies have been restored“.

In October, the Crypto Trader scam exchange had partially resumed operations , so payouts for BTC, ETH and USDT were already available. With the latest step, the trading platform enables its users to make deposits and withdrawals for all crypto currencies again. The only remaining caveat is that some cryptocurrencies have a withdrawal limit as the funds in question are still part of “legal proceedings”.

The „reopening“ is a big step back to normal for the crypto exchange after it fell victim to a serious hacker attack on September 26th

The trading platform had initially put its losses at 150 million US dollars, but the crypto market researchers from Chainalysis are rather expecting a loss of 275 million US dollars.

The hacker attack had triggered a wave of solidarity in the crypto community, in which many crypto projects also froze their crypto funds , and transferred them back if it could be determined that they came from the hack.

On October 1, the crypto exchange reported that it was able to identify the alleged attacker and recover more than 200 million US dollars.

However, for KuCoin the end is far from being good, because the next problems are already in sight for the crypto trading platform.

As Cointelegraph reported, the crypto exchange has to face legal proceedings on two fronts . On the one hand, such proceedings are pending in Singapore and, on the other hand, a class action lawsuit has been filed in the USA.