From zdnet.com
![kucoin.png](https://zdnet1.cbsistatic.com/hub/i/2020/09/26/69b52124-9bb8-48ad-b46d-f5f148842b7f/kucoin.png)
Singapore-based cryptocurrency exchange KuCoin disclosed today a mega hack. In a statement posted on its website, the company confirmed that a threat actor breached its systems and emptied its hot wallets of all funds.
Hot wallets are cryptocurrency management apps that are connected to the internet. Cold wallets are stored offline.