Crypto.com revealed that 483 user accounts were hacked in the latest hack which resulted in unauthorized withdrawals.
For about $34 million worth of cryptocurrencies, including bitcoin and ether. However, the company confirmed that customer funds were not
More at risk.
Hack Postmortem from Crypto.com and CEO Comments
Crypto.com on Thursday revealed the number of users affected by the January 17 unauthorized withdrawals of cryptocurrency and stolen cryptocurrency. The company wrote:
The incident affected 483 Crypto.com users. Unauthorized withdrawals totaled 4,836.26 ETH and 443.93 BTC
and about 66,200 USD in other currencies.
At the time of writing, Bitcoin is at $42,083.95 and Ether is $3,178.94 based on data from stock exchanges.
Bitcoin.com. Therefore, the value of BTC and ETH stolen during the hack is over $34 million.
Crypto.com CEO Kris Marszalek commented on the security breach on his platform in an interview with Bloomberg
Wednesday.
Noting that his company invests heavily in cyber security, he said: “We have 200 specialists around the world who spend collectively
The last few years have been building a very strong infrastructure,” which he said has multiple layers.
"In this particular incident, some of these layers were compromised," he admitted. However, he noted, “We were back to work in about 13, 14 hours
During the same day, all affected accounts were fully repaid, so there was no loss of customer funds.”
Marsalek said the accident was a great lesson and his company will continue to strengthen its infrastructure.
Regardless of the stolen money, the CEO noted:
To ensure that a security breach like this does not happen again in the future. The CEO replied, “There are additional layers of security
We are implementing it as well as some new programs.”
One of the new security measures is the Worldwide Account Protection Program (WAPP) that Crypto.com announced on Thursday with
corpse dissection. The company claims that WAPP “provides additional protection and security for user funds contained in the Crypto.com application and in the
Crypto.com Stock Exchange". The program will cash back up to $250,000 for eligible users.
Since the Crypto.com exchange is based in Singapore, Marsalek was asked if he had been contacted by the Monetary Authority.