The popular cryptocurrency exchange Crypto.com was expected to lose about $ 15 million in ethereum (ETH) following Monday’s hacker attack, says blockchain security company PeckShield. The exchange itself claims, however, that no customer funds have been lost.
- On Monday, the cryptocurrency exchange Crypto.com stopped withdrawals for several hours due to “suspicious activity”
- The CEO said that customer funds remained safe, but users reported the loss of cryptocurrencies
- PeckShield claims that ethereum tokens worth several million dollars may have disappeared
- More similar and interesting articles can be found on the Comparic.pl home page
Ethereum disappearing from Crypto.com. The stock exchange writes about the lack of losses on user accounts
On Monday, the cryptocurrency exchange Crypto.com announced that it had held withdrawals due to “suspicious activity.” Some users started complaining about the loss of cryptocurrencies in their accounts. It took 14 hours for the Singapore-based company to resume payouts.
Crypto.com users started experiencing problems with their accounts. Users then realized that their accounts had been hacked and that cryptocurrencies were missing from their balances. In some cases, the thieves took all funds from their accounts with them.
We have a small number of users reporting suspicious activity on their accounts.
We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.
— Crypto.com (@cryptocom) January 17, 2022
CEO Kris Marszalek commented on Twitter that no client funds were lost. He also added that the Crypto.com team strengthened the exchange’s infrastructure in response to the incident.
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The exchange is still conducting an internal investigation into the breach of user security.
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
The tweet stated that only a small number of users were touched by the hook. However, users of the platform massively began to argue otherwise. The number of complaints about funds lost by users as a result of the hack has steadily increased on social media. Most of them concerned the theft of significant amounts of cryptocurrencies and called on the stock exchange to take action on the attack.
According to PeckShield, Crypto.com did not come out with the truth about customer funds. The stock market allegedly lost $ 15 million, or at least 4.6 thousand. ethereum (ETH) tokens that are currently being laundered by the TornadoCash cryptocurrency mixer:
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
While hacker attacks are commonplace in the decentralized cryptocurrency space, it is still unclear how a centralized exchange with as high a caliber as Crypto.com fell victim to the attack. The marshal promised to publish more information as soon as the investigation was completed.
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