Back in September 2020, KuCoin faced a major security breach when hackers infiltrated its hot wallets and made off with approximately $280 million in digital assets. The stolen funds included Bitcoin, Ethereum, and a wide array of ERC-20 tokens. This incident sent shockwaves through the crypto community, highlighting critical vulnerabilities in exchange security infrastructure. The attackers gained unauthorized access to the platform's wallet systems, exposing the risks that centralized exchanges face. The event served as a stark reminder for traders about the importance of security measures and asset management practices in the volatile crypto landscape.