According to blockchain security firm PeckShield, Crypto.com, a major cryptocurrency exchange, has lost nearly $15 million in Ethereum (ETH) to hackers.
— PeckShield Inc. (@peckshield) January 18, 2022
Crypto.com hack: The platform still investigating the security breach
The robbers were able to launder half of the stolen cryptocurrency using the Ethereum-powered coin mixing service Tornado Cash.
On Monday, Crypto.com announced that it had halted withdrawals “due to suspicious activity.” Several individuals began to express their dissatisfaction.
I messaged yah guys hours ago about my account having 4.28ETH stolen out of nowhere and I’m also wondering how they got passed the 2FA?
— BEN BALLER™ (@BENBALLER) January 17, 2022
It took 14 hours for the firm to resume withdrawals after the network outage.
The CEO of Crypto.com, Kris Marszalek, stated in a recent Twitter update that no customer money was lost. He also stated that the Crypto.com team had increased the exchange’s infrastructure as a result of the event. The exchange is still investigating the security breach internally.
Some thoughts from me on the last 24 hours:
– no customer funds were lost
– the downtime of withdrawal infra was ~14 hours
– our team has hardened the infrastructure in response to the incident
We will share a full post mortem after the internal investigation is completed.
— Kris | Crypto.com (@Kris_HK) January 18, 2022
Many Twitter users have condemned Crypto.com for never mentioning the amount of crypto stolen as a consequence of the attack.
In the decentralized finance world, rug pulls and hacks are prevalent, yet it’s uncertain how a major centralized exchange like this was hacked. Marszalek has stated that a post-mortem will be published as soon as the investigation is finished.