Recently the KuCoin cryptocurrency exchange has recorded several large unauthorized transfers of digital assets from its hot wallet to unknown addresses.
According to the CEO of KuCoin Global, Johnny Liu, the attack affected the wallets with bitcoins, ether, and ERC20 tokens. Most of them were “safe”, so with the assistance of crypto projects, the exchange will be able to recover about 129 million tokens.
For ERC20s a decision was made to devalue tokens from their original smart contracts and create new ones. So that legitimate holder can claim their assets from new smart contracts – there is a need for snapshots with total balances before the incident.
PARSIQ started by helping NOIA Network and will provide snapshots for other projects as well. As reported, the NOIA team has taken a snapshot of all wallets token balances on the block 10946420. NOIA ERC20 tokens will be reissued 1:1 via a new smart contract, and automatically distributed to the holders of the previous token.
A list of projects affected by the hack listed on PARSIQ’s Snapshot page
A few hours later, the CarVertical team announced a 1:1 [cV] swap via a new smart contract based on PARSIQ’s snapshot.
Last week, PARSIQ launched its sub-product FLASHR, which is aimed to track whales’ and teams’ asset movements. As the Kucoin hacker had started to withdraw tokens on Uniswap, FLASHR subscribers noticed suspicious transactions occurred with LINK tokens.
FLASHR, a public free-to-use monitoring system, can be useful to track major transactions as soon as they happen
About PARSIQ:
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ’s features automate the blockchain analytics and monitoring process, providing customizable workflows with real-time intelligence.
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