Crypto.com was hacked. After users reported suspicious activity to their accounts, the crypto exchange made this announcement in the morning of Monday. This is the first hack of a centralized crypto exchange for 2022. It comes out of the 2021 hacking epidemic that left users and exchanges alike losing billions.
Crypto.com (CRO – Hacker)
Crypto.com users began having problems with their accounts. These users discovered their accounts were being hacked, and that they were now missing cryptocurrency from their balances. Some accounts were hacked and the hacker took all funds.
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Crypto.com took this opportunity to use Twitter to resolve the issues. The crypto exchange quickly responded to the reports about the hack by announcing that withdrawals would be restricted for all users. However, it assured the community that their funds are safe.
A small percentage of our users have reported suspicious activity to their accounts.
Our team is currently investigating. We’ll be suspending withdrawals as soon as possible. All funds are secure.
— Crypto.com (@cryptocom) January 17, 2022
In a tweet, the user said that the hack had only affected a few users. Users of the platform quickly retorted that it was false. Social media has seen an increase in complaints about funds being stolen by hackers. Many had significant amounts of stolen crypto and called on the exchange for action.
Moving Forward with Caution
Crypto.com promptly rescinded all withdrawals after the news about its hack. The hack resulted in users being unable to withdraw and pending withdrawals being blocked. The hacker(s), who were attempting to steal more accounts from affected users, made this change to stop them from doing so.
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According to some reports, the attack happened after attackers managed to get around 2FA security precautions on the exchange. Crypto.com alerted customers to reset 2FA information and to log back in to the platform to gain access.
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Today, unauthorized activity was reported by a few users. All funds are secure.Security on all accounts has been increased to increase safety. Users are required to:
-Sign back into their App & Exchange accounts
-Reset their 2FA— Crypto.com (@cryptocom) January 17, 2022
According to the cryptocurrency exchange, this update would be slowly released to its users. Once the update is complete, users can withdraw their coins and send them out to the exchange. “We understand this may be an inconvenience, but security comes first,” the exchange said.
Source: TradingView.com CROUSD| Source: CROUSD on TradingView.com
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