Singaporean exchange KuCoin has lost $281M in a hack that occurred on September 26, according to an official statement. The exchange has assured users that their funds will be reimbursed via its insurance fund.

• KuCoin’s internal security audit confirms that Bitcoin (BTC), ERC-20 tokens, XRP, Litecoin (LTC), Tether (USDT), Stellar Lumens (XLM) and TRON (TRX) hot wallets were affected
• 11,480 ETH and over 150 ERC-20 tokens were sent to an Ethereum wallet address, which has been blacklisted by exchanges that include Binance, Huobi, OKEx and Bybit
• KuCoin CEO Johnny Lyu organized a livestream following the incident, and said that all affected users would be completely covered 
• The exchange is working with law enforcement to track the culprits; the withdrawal service is expected to resume within a week
• 2020 has had seen several hacks, including 335 BTC being stolen from Cashaa in July and a $500K attack on the Balancer (BAL) protocol in June