In case you missed it today, Kucoin a Singapore based exchange was hacked earlier today and had large sums of Ether and bitcoin drained from their hot wallets.

Hacking, obviously not new in the Crypto space but having the exchange withstand the attack AND have the funds to cover the losses entirely through an insurance slush fund. This right here is how we know things are progressing.

Remember Cryptopia? We do... $40,000 lost to that exchange and numerous others! As bad as this seems, this is just a part of the new future, attacks will continue but how these comanies withstand them is the BIG SIGN here!

Kucoin... Caught this early, the attack was thwarted for the most part and everything is copacetic now. As long as Kucoin stays standing and doesn't get hit again with worse results I would say this is a huge step forward for Crypto!

The second best part of this is that Kucoin only lost a small percentage over the day on their exchange utility token KCS. This shows that even though the exchange was hit there is still a ton of confidence from the users :)

Happy days ahead, Keep stacking, the moons coming!

BlueSkyCrypto

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