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On Monday, April 24, the Twitter account of KuCoin, a well-known cryptocurrency exchange, fell victim to a cyberattack. Platform officials confirmed the incident on various social media platforms.

The latest update indicates that control of the hacked Twitter account has been restored. However, hackers were able to publish fraudulent links during the attack, causing exchange users to lose $22,600 in stable Tether (USDT) currency.

It wrote here that as a result of this hacking attempt, the exchange detected 22 transactions related to fraudulent links. KuCoin assured all affected parties that they would be reimbursed for all financial losses incurred. The exact methods used by hackers to gain control over the exchange's Twitter account have not yet been disclosed.

In a separate incident, unidentified individuals reportedly hacked the Twitter account of Gate.io, a former trading platform. The hackers posted a tweet announcing a fake USDT giveaway and included a link to a duplicate website, according to analysts at PeckShield. However, Gate.io chose not to disclose further details about the scope of the attack. Hackers also gained access to CoinDCX's Twitter account, where they frequently reposted tweets about XRP. CoinDCX representatives confirmed the hack.

Prior to that report, it was reported that the cyberattacks had cost bitcoin investors a staggering $418.5 million in the first three months of the year. Euler Finance and BonqDAO accounted for more than 70% of that amount, although in the case of Euler Finance, the attackers managed to recover all of the stolen assets. These figures were calculated by analysts from Immunefi.

Of the total amount, more than 95% accounted for hacking attacks, with just over 4% of cases involving fraudulent schemes, including the use of fictitious Twitter accounts.