Rekt covered the September 2020 KuCoin breach, initially described by the exchange as an unplanned movement of funds, with estimated losses ranging from at least $150 million to as much as $280 million. The attacker obtained funds from hot wallets and began laundering tokens through Binance and Uniswap, selling assets such as OCEAN, SNX, COMP, LINK, and DIA for ETH. Several token issuers and projects responded by freezing, forking, or blacklisting stolen assets, including Tether freezing remaining USDT. The article noted that the laundering approach appeared unsophisticated and that access to hot-wallet private keys raised speculation about possible insider involvement, though it did not prove that claim.