On September 26, 2020, KuCoin announced that it had been hacked and stolen from in a pre-planned hacking attack.

By the time the entire hack was analyzed, the lost funds had amounted to $280 million in stolen cryptocurrencies, making the KuCoin incident, the third biggest crypto exchange hacks till now. The reports suggested that the funds were stolen out of the company's hot wallets and that its cold wallets were still safe.