On Monday, January 11, Crypto.com, the prominent cryptocurrency exchange platform, froze all payments and withdrawals, alleging “unauthorized behaviour” on some accounts. It has, however, restored some accounts and withdrawal services, stating that the funds are now secure.
Crypto.com was the latest target of a hack, according to security and data analytics firm PeckShield, with approximately $15 million in cryptocurrencies taken. At least 4,600 Ether have been stolen from the exchange’s accounts.
Crypto.com sent out a tweet alerting users that a handful of users have reported suspicious activity on their accounts. Withdrawals will be frozen for the time being while their staff investigates the problem. According to the notification, all of the funds are secure.
Billy Markus, the founder of Dogecoin (DOGE), noticed an odd transaction pattern on Etherscan, prompting the company to pause all transactions until they can determine what’s wrong with their platform.
Several consumers stated on social media that their digital assets valued at tens of thousands of dollars had vanished from the exchange.
Ben Baller, a cryptocurrency enthusiast and jeweller, claimed that his account was hacked and that he had lost 4.28 Ether (ETH) (about $15,000). He also stated that he employed two-factor authentication, which meant that the suspected crooks had to circumvent some of Crypto.com’s security procedures.