Exploit_vector: Attackers obtained private keys of KuCoin's hot wallets, enabling unauthorized withdrawal of various tokens across multiple blockchains
Severity: Critical
Attack_steps:
Attackers accessed KuCoin's hot wallet keys
Drained assets including BTC, ETH, USDT, and dozens of ERC-20 tokens
Swapped or mixed stolen assets to avoid traceability
Certain tokens were frozen by their issuers post-attack (e.g., Tether, Ocean, Orion)
Impact: \(280 million in tokens lost, though a large portion (\)240M) was recovered or frozen
Exploitability: High — direct key access gave complete fund control
Root_cause: Inadequate protection of private keys associated with hot wallets