After kucoin was attacked by a $150 million hacker attack, bitcoin prices remained indifferent

In an official statement, kucoin's global chief executive, Johnny Lyu, confirmed a major hacking attack on September 26. After the private key was compromised, the vulnerability affected the company's bitcoin (BTC), Ethernet (ETH) and erc20 hot wallets. The report estimates that the vulnerability has affected $150 million in user funding.

Following the security hole, the price of bitcoin has hardly moved. Other major cryptocurrencies, including ether and distributed Finance (defi) tokens, are also relatively immune to hackers.

In the past, security holes in the cryptocurrency exchange have led to a sell-off across the market because of concerns that hackers might sell proceeds.

But tether (usdt) has moved quickly to stop the transfer of assets related to security vulnerabilities. Major exchanges, including bitfinex, have also frozen usdt related to hacking.

A quick response from tether and the top exchanges could prevent most of the money from being transferred by hackers.

Kucoin contacted major exchanges and tether and bitfinex froze $33 million

According to bitfinex and Paolo ardoino, chief technical officer of tether, the two entities have frozen a total of $33 million.

If earlier estimates were accurate and $150 million had been stolen, that would have accounted for 22% of the lost funds. He said:

As a precautionary measure, bitfinex froze 13 million tether usdts on EOS. As a preventive measure, tether only froze the Ethereum address https://etherscan.io/address/0xeb31973e0febf3e3d7058234a5ebbae1ab4b8c23 20 m tether usdt. Everyone is safe! "

Kucoin is now in contact with Huibi, binance, okex, bitmax and bybit, Lyu said in an official statement. The company also said it was working with law enforcement and related blockchain projects.

In the short term at least, this will make it challenging for hackers to try to transfer money. The chief executive said:

"We are in contact with a number of major cryptocurrency exchanges (such as huanbi, binance, okex, bitmax and bybit) as well as blockchain projects, security agencies and law enforcement to do this. Some effective measures have been taken and we will provide more details as soon as possible. "

Although a small portion of the money hacked into is stored in bitcoin, most of it is reported to be stored in ERC 20 tokens. The risk with tokens is that hackers may use the defi protocol to try to eliminate "tainted" tokens.

But according to dovey Wan, founding partner of primitive crypto, hackers are trying to deal with contaminated money. She explained:

"The hackers who hacked into kucoin were clearly defi rookies trying to sell on binance and did not exchange contaminated usdts on curve. All defi infras are natural mixers with very low slip ratio A hacker with a normal IQ will soon find out that this is not some alpha leak, and defi infra is designed for all purposes... If a hacker can hack into CEX, he / she does not know how to successfully liquidate through DEX. "

Bitcoin remained stable above $10700

After withdrawing the $10407 Whale Cluster, the cluster has become a supporting area, and bitcoin has experienced a short-term trend reversal.

On September 26th, cointellegraph reported that with the recent BTC rebound above $10700, the price of the whale herd was $10407. The data show that the price of whales has been above $10000, which indicates that the overall performance of the market is strong.

Despite major security vulnerabilities, bitcoin's resilience demonstrates the power of the continued upward trend.