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Crypto trading platform Crypto.com detected unauthorized activity on the platform on Jan. 17, after which it stopped deposits and withdrawals for some time.
The team was investigating suspicious activities during the pause. Crypto.com stated that all funds were unaffected.
The exchange implemented an update, enhancing security on all accounts, and resumed withdrawals in several hours.
Update: Withdrawal services have been restored.
— Crypto.com (@cryptocom) January 17, 2022
All funds are safe.
It will take time to clear the backlogs. We appreciate your patience. https://t.co/ZKMfyTMebi
According to the blockchain security platform Peckshield based on EtherScan data, Crypto.com lost about $15 M with at least 4.600 Ethers. Peckshield analysis revealed that the stolen funds were being washed via the privacy coin Tornado Cash.
As per data from CoinGecko, Crypto.com is in the top 5 cryptocurrency exchanges by daily trading volume. Recently, the company appointed tech journalist Jon Russell as an Asia-based general partner of its Web 3 fund.
Crypto.com was launched in 2016. The platform has its native token CRO, which trades at around $0.4 at the moment. In the last 24 hours, CRO price dropped by around 2.3%.