Over $34 Million in Bitcoin and Ether Stolen from Crypto.com

If it wasn’t given off by their name, Crypto.com is one of the biggest and most popular crypto exchange sites out there. It is well trusted by many people and a lot of users are able to trade different cryptocurrencies, NFTs, and many more with the platform. It’s usually very secure but recent news shows that even the tightest securities can get hacked. 

483 Accounts Hacked, $34 Million Stolen

A recent announcement from Crypto.com revealed troubling news for its userbase. The platform stated that a great number of users were hacked judging from cases where accounts showed unauthorized crypto withdrawals leading to their cryptocurrency being stolen. This happened on the 17th of January this week. 

To address their trusted userbase, Crypto.com stated that the hacking has affected 483 users. These unauthorized withdrawals from their account totaled 443.93 BTC and 4,832.26 ETH in total. Additionally, $66,200 were stolen from other currencies as well so it’s more than just BTC and ETH. Convert that into US dollars and you’ll have a rough approximate of  $34 million dollars stolen from nearly 500 users! 

Kris Marszalek, CEO of Crypto.com states that Crypto.com invests a great deal of money into cryptocurrency. They have over 200 professionally built their infrastructure and they constantly monitor for cyber threats. 

Despite his praise, for his company’s cybersecurity team he admits that the security was still breached but they were able to get back up running within 14 hours on the same day of the attack. He also mentioned that all of the 483 affected accounts have been reimbursed so no funds were lost except for the company during the attack. Marszalek states that they will be adding more layers o security as well as implementing some new programs to bolster the platform’s security. 

Conclusion

Crypto.com is a platform with robust security and a dedicated team. Despite all of this they were still hacked showing which is quite concerning. Fortunately, all of the victims of the hack were reimbursed so they did not lose any money in the end. Still, it’s a sign that big platforms like Crypto.com need to step up their game because hackers already have. 

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.