Crypto is on the list of hackers.
In 2022, more than 1 billion worth of crypto was hacked.
And 2022 can be called the worst year for cryptocurrencies.
Kucoin is one of the most popular crypto exchanges in the world.
This exchange offers you a wide range of crypto coins that are not listed on other exchanges.
And that is the most significant reason people love using it for altcoin trading.
However, hackers are consistently chasing the exchanges where they can hack millions of dollars.
Certainly, if your Kucoin account has been hacked, you will have to take immediate action to recover your account and the funds stored in Kucoin.
What To Do If Your Kucoin Account Has Been Hacked?
Here’s what you can do immediately if something happens to your funds at Kucoin.
Step 1- Contact Kucoin Support
Contacting Kucoin’s customer support team is the first step as you will want to notify Kucoin as soon as possible that your account has been compromised or hacked.
They will be able to guide you on what to do next.
They will take immediate action required for the safety of your funds.
So the first thing is to inform them as soon as possible.
Step 2- Secure Your Account
If you are still able to access your account, you should immediately do the following steps.
- Change your password and
- Enable 2-factor authentication
This will help you secure your Kucoin account and the hackers will be prevented from accessing it further.
This will make it difficult for the hackers to steal your funds once you are in action.
Step 3- Monitor Your Account
The next thing is that you should carefully monitor your account for any unauthorized activity.
If there is something unusual, you should immediately report Kucoin about this.
Many people don’t check their accounts for a long time which is not right at all.
Checking your account and funds is necessary and you should do it regularly.
Step 4- Keep Track Of Your Recovery Information
It’s important to keep track of your Kucoin account recovery information such as the email address in case you need to reset it. If so, it will be useful what you have set up. Recover your password or your account.
Step 5- Avoid Asking Unauthorized people For Help
Next thing is that all users go to Reddit to share their problems in the Kucoin Reddit community.
You will surely find a solution to your problem there.
However, be careful because there are a lot of scammers on Reddit.
So you have to keep your information safe and not click on any link provided.
As these phishing attacks are becoming common on crypto exchanges, do not share your personal or Kucoin account information there.
Kucoin may be able to help you recover your funds.
But this is not guaranteed as they ask you to set up 2-factor authentication and a strong password at the first step.
That is why it is the user’s responsibility to secure their account information for the safety of the funds.
It is always best to ask the support team for assistance.
Kucoin will take steps if it is not late.
Will Kucoin Refund Me If I Get Hacked?
No, Kucoin will not refund you because it is your responsibility to secure your account with a strong password, and 2-factor authentication.
Kucoin will only assist you if your funds are hacked.
Also check: How to transfer crypto from Kucoin to Coinbase