Massive security breach forces one of the world’s top cryptocurrency exchanges to halt all payments and withdrawals.
Toward the end of the day on Monday, Crypto.com got reports from a small group of consumers that they had noticed suspicious activity in their accounts.
Even though they had never explicitly directed it to do so, they still lost money from their accounts without their knowledge.
Some users took to social media to report the issue, with one stating that he witnessed a withdrawal of 4.28 Ethereum tokens from his cryptocurrency wallet.
According to his story, this came out of nowhere.
In addition, the fact that he had the two-factor authentication mechanism enabled didn’t stop him from having this issue. Unfortunately, at today’s Ethereum prices, that’s the equivalent of $14,000 taken from him.
Nevertheless, Crypto.com assured customers that their funds were safe. But, the business asked them to log out and then log back in to ensure that their funds were secure.
Earlier morning, some customers had their accounts compromised by a cyberattack.
Nonetheless, All the money is now safe and secure.
As a precaution, there has been an increase in the security of the accounts. Necessitating that user should, as soon as possible, sign back in their App and Exchange accounts
In a statement on social media six hours later, Crypto.com said it had resolved the issue and was ready to resume trading.
There has been a return to normal service for withdrawals. There is no risk to any of your money. It will take some time to clear backlogs. Thank you for your understanding, the business replied in an email.
Some customers, on the other hand, thought this was an inadequate approach.
Besides, what about the illegal account withdrawals? According to someone’s comment, they had some missing coins in their personal account.
“I lost 1.2 btc (Bitcoin),” lamented another disgruntled consumer. They made four withdrawals of 26btc each.
“Still can’t access my account,” said a third person. It’s been four hours and no one from the support crew has responded. From now on, I’ll be trading on FTX.
Because of the growth it has experienced since its debut in 2015, Crypto.com has risen to become one of the world’s leading cryptocurrency exchanges.
Following its launch in Australia and New Zealand at the end of last year, it now has a few Australian and New Zealand users as well. It currently has roughly 10 million US consumers.