Cryptocurrency platform Kick was hacked recently, leading to $41 million in Lost Stake owner funds. The attack occurred in mid-January and took advantage of a vulnerability in the platform to control large amounts of Stake owner funds. The affected users have since begun filing complaints with the hacker claiming the funds are theirs.
Kick’s founders have since released a statement acknowledging the attack and describing their strategy to investigate the issue further. In their statement, Kick’s founders stated that the hackers had exploited a vulnerability in the platform, taking advantage of an “unidentified system flaw” which allowed them to gain access to Stake owner’s funds.
The exact details of the attack remain unclear, although flags have been raised around specific user activities as the attack was carried out. Kick’s founders have stated that all affected users will receive their missing funds back after the investigation is concluded.
In response to the attack, the platform has already completed a security review of their systems, and has tightened security measures. They plan to continue regularly monitoring their systems for vulnerabilities. Kick’s founders have also promised to provide a detailed report on the attack upon its conclusion.
Stake owners who had their funds stolen from the attack are still in the process of filing complaints with the hacking party and Kick itself. In addition, affected users are also reporting other suspicious activity associated with the attack. The extent of funds lost is still unclear, and Kick’s investigation into the attack is ongoing.
The Kick platform has been a popular choice for Stake owners looking to manage their funds, especially in light of recent security incidents which have plagued the cryptocurrency sector. However, this incident indicates that more work needs to be done in order to keep Stake owner funds secure on the platform.
The incident is sure to raise questions about the security of Kick and other cryptocurrency platforms as the sector continues to grow. As users move more of their funds into cryptocurrency platforms, it is essential to make sure all measures are taken to ensure the security of their funds.
