Auditing Firms Claim Crypto.com Lost $15 Million in Incident as Users Report Suspicious Activity – Bitcoin News

Crypto.com, the world’s largest cryptocurrency exchange, was hit by strange activity on its accounts. The exchange immediately acknowledged that the issue had occurred and launched an investigation to determine if all funds were secure. According to reports by Certik and Peckshield, some funds may have been removed from the exchange wallets.

Crypto.com suspends withdrawals after suspicious activity is reported

Crypto.com, a cryptocurrency exchange, suspendedAfter customers complained about suspicious activity in their accounts, normal withdrawals were performed. Customers were assured that funds are safe in the first statement. These reports resulted in an increase in security measures to gain access to accounts. All customers were required to log back into their accounts. The two-factor authentication (2FA), for all accounts, had to also be reset.

Some customers complainedOther people claimed that they had been able to reset two-factor authentication keys. unableTo access the exchange, Kris Marszalek was Crypto.com’s CEO and reported on what transpired. It stated that withdrawals resumed after the exchange had halted for 14 hours. The exchange introduced a new security measure: customers won’t be able to withdraw from whitelisted addresses in the first 24 hours after registration with the platform.

Marszalek reiteratedThe company stated that there were no lost user funds and would provide a complete post-mortem following its investigation.

Blockchain Auditing Firms Make Other Reports

Crypto.com has repeatedly stated that there was no loss of user funds, but contradictory statements have been made. Peckshield and Certik, both security- and blockchain auditing companies reported that the opposite was true. Peckshield statedThe exchange lost $15million, which is 4.6KETH, during the event. Half of the funds were being used to launder Tornado.cash. Tornado.cash allows anonymous transactions and anonymity.

Certik, another accounting firm corroborated Peckshield’s report, reporting that the funds were being sent to Tornado.cash. Certik informedIt had shared a list with its followers of the user addresses that were allegedly affected by the incident, as well as the amount of ether taken from each account. According to the company, 282 accounts had been affected.

We are still not sure what the cause was. Crypto.com has an ongoing internal investigation into the matter. Certik and Peckshield have not made any statements about what occurred.

Let us know your thoughts about Crypto.com’s suspicious behavior. Comment below.

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