Crypto.com said Thursday that cybercriminals had breached its security systems earlier in the week and made off with more than $30 million in stolen bitcoin and ethereum.
The cryptocurrency exchange Crypto.com, known for its viral commercial starring Matt Damon as well as its recent $700 million deal to rename the Staples Center in Los Angeles as Crypto.com Arena, said the hackers managed to bypass its two-factor authentication system and withdraw the funds from 483 customer accounts, according to a statement the Singapore-based crypto exchange posted Thursday on its corporate blog.
"Unauthorized withdrawals totaled 4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies," the company said in the post. That works out to around $15 million and $19 million in ethereum and bitcoin, respectively, based on current exchange rates. All customers have been "fully reimbursed" for any lost funds as a result of the hack, Crypto.com said.
The blog statement serves as a postmortem of the hack, which the company said happened Monday. It provides details of the event and the company's detection and response to the cyber breach, as well as its "next steps," but it does not offer information on the identity of the hackers behind the breach.
The timing of Crypto.com's public statement, a full three days after the hack, is viewed by many as belated confirmation. According to an article from CoinDesk on Wednesday, about 4,600 etherium that was reportedly stolen from Crypto.com was "currently being laundered via Tornado Cash — an Etherium Mixer." Thursday's blog post also followed a Bloomberg interview Wednesday with Crypto.com Chief Executive Kris Marszalek, in which the CEO acknowledged that approximately 400 customer accounts were hacked.
"Given the scale of the business, these numbers are not particularly material and customer funds were not at risk," the CEO told Bloomberg.
cbsnews.com/news/crypto-com-loses-30-million-dollars-in-etherium-and-bitcoin/
The cryptocurrency exchange Crypto.com, known for its viral commercial starring Matt Damon as well as its recent $700 million deal to rename the Staples Center in Los Angeles as Crypto.com Arena, said the hackers managed to bypass its two-factor authentication system and withdraw the funds from 483 customer accounts, according to a statement the Singapore-based crypto exchange posted Thursday on its corporate blog.
"Unauthorized withdrawals totaled 4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies," the company said in the post. That works out to around $15 million and $19 million in ethereum and bitcoin, respectively, based on current exchange rates. All customers have been "fully reimbursed" for any lost funds as a result of the hack, Crypto.com said.
The blog statement serves as a postmortem of the hack, which the company said happened Monday. It provides details of the event and the company's detection and response to the cyber breach, as well as its "next steps," but it does not offer information on the identity of the hackers behind the breach.
The timing of Crypto.com's public statement, a full three days after the hack, is viewed by many as belated confirmation. According to an article from CoinDesk on Wednesday, about 4,600 etherium that was reportedly stolen from Crypto.com was "currently being laundered via Tornado Cash — an Etherium Mixer." Thursday's blog post also followed a Bloomberg interview Wednesday with Crypto.com Chief Executive Kris Marszalek, in which the CEO acknowledged that approximately 400 customer accounts were hacked.
"Given the scale of the business, these numbers are not particularly material and customer funds were not at risk," the CEO told Bloomberg.
cbsnews.com/news/crypto-com-loses-30-million-dollars-in-etherium-and-bitcoin/
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.