KuCoin Fraudulent Website - Revision history

Azoundria at 16:15, 2 May 2023

2023-05-02T16:15:09Z

← Older revision		Revision as of 10:15, 2 May 2023
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	[[File:Kucoin.jpg\|thumb\|KuCoin]]KuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds.		[[File:Kucoin.jpg\|thumb\|KuCoin]]KuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds.

	This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore.		This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore.<ref name="slowmisthacked-1160" /><ref name="allthingscryptocurrency-4331" /><ref name="kucoin-4332" /><ref name="webeatthebroker-4333" /><ref name="pupuweb-4334" /><ref name="kucoin-4335" /><ref name="kucoin-4336" /><ref name="cryptonews-4337" />
	<ref name="slowmisthacked-1160" /><ref name="allthingscryptocurrency-4331" /><ref name="kucoin-4332" /><ref name="webeatthebroker-4333" /><ref name="pupuweb-4334" /><ref name="kucoin-4335" /><ref name="kucoin-4336" /><ref name="cryptonews-4337" />

	== About KuCoin ==		== About KuCoin ==
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	!Description		!Description
	\|-		\|-
	\|August 19th, 2020 ~~12:00:00 AM~~		\|August 19th, 2020
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~Which policies could have prevented this event from happening?~~

	== References ==		== References ==
	<references><ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>		<references><ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 26, 2021)</ref>

	<ref name="allthingscryptocurrency-4331">[https://allthingscryptocurrency.io/2020/08/20/kucoin/ KuCoin: Beware Of Website Impostor Giving Rewards For Crypto Deposit -] (Dec 10, 2021)</ref>		<ref name="allthingscryptocurrency-4331">[https://allthingscryptocurrency.io/2020/08/20/kucoin/ KuCoin: Beware Of Website Impostor Giving Rewards For Crypto Deposit -] (Dec 11, 2021)</ref>

	<ref name="kucoin-4332">[https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group] (Dec 10, 2021)</ref>		<ref name="kucoin-4332">[https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group] (Dec 11, 2021)</ref>

	<ref name="webeatthebroker-4333">[https://webeatthebroker.com/kucoin-warns-of-impersonator-website-offering-incentives-to-deposit-crypto/ KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto] (Dec 10, 2021)</ref>		<ref name="webeatthebroker-4333">[https://webeatthebroker.com/kucoin-warns-of-impersonator-website-offering-incentives-to-deposit-crypto/ KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto] (Dec 11, 2021)</ref>

	<ref name="pupuweb-4334">[https://pupuweb.com/cryptocurrency-blockchain-news-headline-updated-20200820/ Cryptocurrency and Blockchain News Headline Updated on August 20, 2020 - Pupuweb] (Dec 10, 2021)</ref>		<ref name="pupuweb-4334">[https://pupuweb.com/cryptocurrency-blockchain-news-headline-updated-20200820/ Cryptocurrency and Blockchain News Headline Updated on August 20, 2020 - Pupuweb] (Dec 11, 2021)</ref>

	<ref name="kucoin-4335">[https://www.kucoin.com/ https://www.kucoin.com/] (Dec 10, 2021)</ref>		<ref name="kucoin-4335">[https://www.kucoin.com/ https://www.kucoin.com/] (Dec 11, 2021)</ref>

	<ref name="kucoin-4336">[https://www.kucoin.com/about-us https://www.kucoin.com/about-us] (Dec 10, 2021)</ref>		<ref name="kucoin-4336">[https://www.kucoin.com/about-us https://www.kucoin.com/about-us] (Dec 11, 2021)</ref>

	<ref name="cryptonews-4337">[https://cryptonews.com/reviews/kucoin/ KuCoin Exchange Review (2021): Is It Reliable? \|] (Dec 10, 2021)</ref></references>		<ref name="cryptonews-4337">[https://cryptonews.com/reviews/kucoin/ KuCoin Exchange Review (2021): Is It Reliable? \|] (Dec 11, 2021)</ref></references>

Azoundria at 16:52, 22 February 2023

2023-02-22T16:52:18Z

← Older revision		Revision as of 10:52, 22 February 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/kucoinfraudulentwebsite.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/kucoinfraudulentwebsite.php}}
			{{Unattributed Sources}}

	[[File:Kucoin.jpg\|thumb\|KuCoin]]KuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds.		[[File:Kucoin.jpg\|thumb\|KuCoin]]KuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds.

	This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore.		This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore.
			<ref name="slowmisthacked-1160" /><ref name="allthingscryptocurrency-4331" /><ref name="kucoin-4332" /><ref name="webeatthebroker-4333" /><ref name="pupuweb-4334" /><ref name="kucoin-4335" /><ref name="kucoin-4336" /><ref name="cryptonews-4337" />

	== About KuCoin ==		== About KuCoin ==
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	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
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	\|-		\|-
	\|August 19th, 2020 12:00:00 AM		\|August 19th, 2020 12:00:00 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		There do not appear to have been any funds recovered in this case.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
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	== Prevention Policies ==		== Prevention Policies ==
			Which policies could have prevented this event from happening?

	== References ==		== References ==
	[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)		<references><ref name="slowmisthacked-1160">[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25, 2021)</ref>

	[https://allthingscryptocurrency.io/2020/08/20/kucoin/ KuCoin: Beware Of Website Impostor Giving Rewards For Crypto Deposit -] (Dec 10)		<ref name="allthingscryptocurrency-4331">[https://allthingscryptocurrency.io/2020/08/20/kucoin/ KuCoin: Beware Of Website Impostor Giving Rewards For Crypto Deposit -] (Dec 10, 2021)</ref>

	[https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group] (Dec 10)		<ref name="kucoin-4332">[https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group] (Dec 10, 2021)</ref>

	[https://webeatthebroker.com/kucoin-warns-of-impersonator-website-offering-incentives-to-deposit-crypto/ KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto] (Dec 10)		<ref name="webeatthebroker-4333">[https://webeatthebroker.com/kucoin-warns-of-impersonator-website-offering-incentives-to-deposit-crypto/ KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto] (Dec 10, 2021)</ref>

	[https://pupuweb.com/cryptocurrency-blockchain-news-headline-updated-20200820/ Cryptocurrency and Blockchain News Headline Updated on August 20, 2020 - Pupuweb] (Dec 10)		<ref name="pupuweb-4334">[https://pupuweb.com/cryptocurrency-blockchain-news-headline-updated-20200820/ Cryptocurrency and Blockchain News Headline Updated on August 20, 2020 - Pupuweb] (Dec 10, 2021)</ref>

	[https://www.kucoin.com/ https://www.kucoin.com/] (Dec 10)		<ref name="kucoin-4335">[https://www.kucoin.com/ https://www.kucoin.com/] (Dec 10, 2021)</ref>

	[https://www.kucoin.com/about-us https://www.kucoin.com/about-us] (Dec 10)		<ref name="kucoin-4336">[https://www.kucoin.com/about-us https://www.kucoin.com/about-us] (Dec 10, 2021)</ref>

	[https://cryptonews.com/reviews/kucoin/ KuCoin Exchange Review (2021): Is It Reliable? \|] (Dec 10)		<ref name="cryptonews-4337">[https://cryptonews.com/reviews/kucoin/ KuCoin Exchange Review (2021): Is It Reliable? \|] (Dec 10, 2021)</ref></references>

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/kucoinfraudulentwebsite.php}} KuCoinKuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds. This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore. == About KuCoin == "Behind KuCoin..."

2023-01-25T17:42:19Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/kucoinfraudulentwebsite.php}} thumb|KuCoinKuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds. This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore. == About KuCoin == "Behind KuCoin..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/kucoinfraudulentwebsite.php}}

[[File:Kucoin.jpg|thumb|KuCoin]]KuCoin reported that a malicious website was pretending to be affiliated with the exchange. The website was promising incentives to lure new users to sign up. It is unclear if any users lost funds.

This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore.

== About KuCoin ==
"Behind KuCoin are two tech geeks who were early blockchain adopters. Having started coding at the age of 8 and founded his first startup at the age of 16, Michael heard about Bitcoin in 2012 from his boss Eric, and immediately started to mine. While he tried to sell some BTC on Mt. Gox, he discovered that, what was the world's largest platform at the time, was difficult for beginners to use. As the adoption of blockchain continued, Michael and Eric realized that it was reshaping the financial system, building a new system that not only serves the few richest, but everyone in the world - even the uneducated, unemployed and unbanked. By the end of 2013, they wrote down the first code in a cafe, beginning the journey of People’s Exchange to allow everyone to get involved with crypto."

"KuCoin is a well-known name in the crypto industry as it managed to establish itself as a prominent one-stop shop for all sorts of crypto operations. Launched in August 2017, the exchange has over 200 cryptocurrencies, more than 400 markets, and has grown into one of the most colorful crypto hubs online."

"The KuCoin platform was designed for investors of all types, with 24/7 world-class services in your preferred channel and language." "KuCoin is the most advanced and secure cryptocurrency exchange to buy and sell Bitcoin, Ethereum, Litecoin, TRON, USDT, NEO, XRP, KCS, and more."

"KuCoin boasts one of the world's most sophisticated security technology and maintenance team, and is constantly upgrading our security systems to ensure the safety of user assets and accounts."

"KuCoin warned of fraudulent websites using its brand to try to steal cryptocurrencies. The website provides false rewards to induce users to deposit digital assets."

"KuCoin warns its customers to be wary of website impersonator who gives out incentives as a catch for making crypto deposit. Impersonation scams have become so rampant in the cryptocurrency space today."

"The KuCoin Group has received several reports from users that a website is using the KuCoin trademark to ask users to transfer digital assets to specific deposit addresses by operating false incentive activity on webpages.

"The KuCoin Group hereby declares and clarifies:"

"1. “https://c.yrsm.net/app.php/MzI1” is a fraudulent website;"

"2. “https://c.yrsm.net/app.php/MzI1” has no relationship with the KuCoin Group, and the KuCoin Group has never authorized the platform to use the KuCoin trademark and other intellectual property;"

"3. Any user who transferred the digital assets to the public deposit address published on the “https://c.yrsm.net/app.php/MzI1” website shall report to the police or relevant authority as soon as possible to recover the losses;"

"4. The KuCoin Group reminds all KuCoin users to be extra careful to avoid this type of scam:"

"a) In addition to the official KuCoin events, the KuCoin Group will not organize any form of activities on platforms other than the official platforms (www.kucoin.com and www.kucoin.io) without pertinent notification from the official KuCoin website;"

"b) Under no circumstances that the KuCoin Group will intend to disclose any deposit address and instruct users to transfer digital assets to the designated address."

This exchange or platform is based in Singapore, or the incident targeted people primarily in Singapore.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:

* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - KuCoin Fraudulent Website
!Date
!Event
!Description
|-
|August 19th, 2020 12:00:00 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==

== References ==
[https://hacked.slowmist.io/en/?c=Exchange SlowMist Hacked - SlowMist Zone] (Jun 25)

[https://allthingscryptocurrency.io/2020/08/20/kucoin/ KuCoin: Beware Of Website Impostor Giving Rewards For Crypto Deposit -] (Dec 10)

[https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group https://www.kucoin.com/news/en-the-declaration-of-the-kucoin-group] (Dec 10)

[https://webeatthebroker.com/kucoin-warns-of-impersonator-website-offering-incentives-to-deposit-crypto/ KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto] (Dec 10)

[https://pupuweb.com/cryptocurrency-blockchain-news-headline-updated-20200820/ Cryptocurrency and Blockchain News Headline Updated on August 20, 2020 - Pupuweb] (Dec 10)

[https://www.kucoin.com/ https://www.kucoin.com/] (Dec 10)

[https://www.kucoin.com/about-us https://www.kucoin.com/about-us] (Dec 10)

[https://cryptonews.com/reviews/kucoin/ KuCoin Exchange Review (2021): Is It Reliable? |] (Dec 10)