Yesterday became known that large crypto exchange Crypto.com, an exchange like Battle in the Netherlands, recordings for users temporarily stopped because several users had noticed certain suspicious activity. The exchange then indicated that users’ funds were safe, but in the meantime it has become known that a serious amount of money has indeed been stolen by hackers.
Hackers
According to blockchain security company Peckshield, hackers have been able to raise at least $15 million ethereum (ETH) from the Crypto.com hot wallet to steal. In addition, Peckshield indicates that they have tracked down the stolen assets and that they are currently being laundered via the coin mixing dienst Tornado Cash.
The @cryptocom loss is about $15M with at least 4.6K ETHs and half of them are currently being washed via @TornadoCash https://t.co/PUl6IrB3cp https://t.co/6SVKvk8PLf pic.twitter.com/XN9nmT857j
— PeckShield Inc. (@peckshield) January 18, 2022
Many users contacted Crypto.com after they claimed to have lost cryptocurrencies, mainly ether tokens. Nevertheless, Crypto.com indicated that no funds had been stolen by hackers.
Despite the fact that Peckshield has revealed that at least $15 million worth of ether tokens were stolen from the exchange, Crypto.com CEO Kris Marszalek adamantly denies that customer funds were stolen. He also indicates that an extensive investigation has been launched into the causes of the hack.
Some thoughts from me on the last 24 hours:
– no customer funds were lost
– the downtime of withdrawal infra was ~14 hours
– our team has hardened the infrastructure in response to the incidentWe will share a full post mortem after the internal investigation is completed.
– Kris | Crypto.com (@Kris_HK) January 18, 2022
Dent in the PR campaign
For that reason, many users on Twitter and customers of the exchange are extremely critical. According to many, the exchange has not been fair and the communication between them and their customers has been way below par.
Their twitter is “all funds are safe, back to normal” but they never mentioned how much has been stolen or giving information of what happened… such poor communication from them.
Thank you PeckShield!— But 🔺 (@JTuxon) January 18, 2022
This criticism comes at the time of an extensive marketing campaign by Crypto.com. In recent times, the exchange has spent astronomical sums in an effort to put the Crypto.com on the map worldwide. For example, in November the exchange obtained the rights to the Staples Center in Los Angeles for $700 million.
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