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Crypto.com Reportedly Lost $15 Million in a Cyberattack

Security

www.financemagnates.com 18 January 2022 03:40, UTC
  
Reading time: ~2 m

Crypto.com has become the latest target of a cyberattack as around $15 million worth of cryptocurrencies have been stolen, according to security and data analytics firm PeckShield. At least 4,600 Ether has been siphoned from some accounts of the exchange.

The analytics company further cited blockchain data detailing that half of the stolen cryptocurrencies have been washed using TornadoCash.

The @cryptocom loss is about $15M with at least 4.6K ETHs and half of them are currently being washed via @TornadoCash https://t.co/PUl6IrB3cp https://t.co/6SVKvk8PLf pic.twitter.com/XN9nmT857j

— PeckShield Inc. (@peckshield) January 18, 2022

Funds Are Safe?

This came only a day after the cryptocurrency exchange halted its withdrawals amid some suspicious activities. “We have a small number of users reporting suspicious activity on their accounts. We will be pausing withdrawals shortly, as our team is investigating.”

However, then Crypto.com stressed that all funds were safe. The exchange did not officially confirm the reports of the hack of its accounts, as of press time.

Several high-profile users also pointed out that Ether has been stolen from their Crypto.com accounts, but the exchange denied these claims earlier. “Earlier today a small number of users experienced unauthorized activity in their accounts,” the exchange noted.

Crypto.com also resumed the withdrawals services after a few hours but was adamant to its stance that none of the funds were stolen.

“Withdrawal services have been restored. All funds are safe,” Crypto.com noted on Twitter. “It will take time to clear the backlogs. We appreciate your patience.”

Crypto.com became one of the largest global cryptocurrency exchanges over the last few years. It inked several high-profile sponsorship deals, mostly in sports, to promote its brand. Most recently, the venture arm of the exchange onboarded prominent tech journalist Jon Russell as a partner, Finance Magnates reported.


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