The KuCoin Exchange opened for cryptocurrency trading in September 2017 which located in Seychelles. The KuCoin Exchange places an emphasis on the quality of the projects listed based on a research department that scours the blockchain industry for quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November 2018, ‘The People’s Exchange’ officially partnered with IDG Capital and Matrix Partners.
On Sept. 25, 2020, KuCoin suffered a cyber attack on their exchange, where hackers stole $275-$285 million worth of users’ digital assets. It was suspected that North Korean hackers were responsible for the hack. However, the Seychelles-based exchange’s quick and efficient response to the hack — KuCoin liaised with blockchain data firm Chainalysis, other crypto exchanges and law enforcement agencies — allowed it to recover most of the funds and refunded the rest of its users using its insurance fund. The KuCoin hack was the fourth largest; check out the list of the largest crypto heist and how the exchanges were affected.