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Crypto.com admits that about 400 customer accounts were hacked earlier this week

Crypto.com logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on September 28, 2021.
Crypto.com said about 400 user accounts were hacked earlier this week.

  • Crypto.com officially confirmed 400 customer accounts had been hacked.
  • The Singapore-based exchange has fully reimbursed affected users, CEO Kris Marszalek told Bloomberg.
  • The exchange had suspended withdrawals after receiving reports of suspicious activity on accounts, it said on Twitter on Sunday.

Crypto.com has confirmed that about 400 customer accounts were hacked earlier this week.

On Monday, the Singapore-based cryptocurrency exchange suspended withdrawals after receiving reports of “suspicious activities” in user accounts, Crypto.com had said on Twitter.

The company’s CEO Kris Marszalek told Bloomberg on Wednesday the company is still working on a post-mortem and will release more information in the days ahead.

But, “given the scale of the business, these numbers are not particularly material, and customer funds were not at risk,” he told Bloomberg. Affected customers have been fully reimbursed, he said.

Blockchain security and data analytics company PeckShield estimated that the exchange lost about $15 million, it said on Twitter on Tuesday.

The exchange has not received any communication from regulators about the incident, Marszalek told Bloomberg.

“Obviously, it’s a great lesson, and we are continuously strengthening our infrastructure,” he told the media outlet.

Last year, Crypto.com launched an aggressive marketing campaign fronted by Hollywood actor Matt Damon. It now boasts over 10 million users. 

Read the original article on Business Insider

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