Technology

Crypto.com lost $34 million in an attack that affected almost 500 accounts

Crypto.com is one of the most popular cryptocurrency trading platforms and since the beginning of the week it has been surrounded by reports that it has been the target of an attack.

According to the official statement, about 500 accounts were affected and $34 million in Bitcoins and Ethereum were stolen.

In a statement issued a few hours ago, the cryptocurrency exchange Crypto.com acknowledged that the company lost more than $30 million worth of Bitcoin and Ethereum after an attack that took place on January 17.

After hearing the news of a possible attack, the company’s CEO left a tweet yesterday in which, without confirming, he gave some clues about what could have happened.

The blog post then confirms that unauthorized withdrawals were made in the amount of 4,836.26 ETH and 443.93 BTC, which is equivalent to approximately $15.2 million and $18.6 million, respectively. In addition to this sum, the equivalent of $66,200 in other cryptocurrencies was raised.

A total of 483 Crypto.com user accounts were affected by this attack. However, Crypto.com claimed that none of the customers lost their money as they were fully reimbursed for their losses.

On the blog you can read that:

On Monday, January 17, 2022, at approximately 00:46 UTC, Crypto.com’s risk monitoring systems detected unauthorized activity on a small number of user accounts where transactions were approved without passing 2FA authentication checks entered by the user. This triggered an immediate response from multiple teams to assess the impact. All withdrawals on the platform have been suspended pending investigation. All affected accounts have been fully restored. Crypto.com revoked all customer 2FA tokens and added additional security measures, requiring all customers to log in again and set up their 2FA token to ensure only authorized activities take place. Survey infrastructure downtime was approximately 14 hours and activities resumed at 17:46 UTC on January 18, 2022.

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