Major cryptocurrency platform and wallet Crypto.com has temporarily halted withdrawals after “a small number of users reported suspicious activity on their accounts,” but all funds are reportedly safe for now.
We have a small number of users reporting suspicious activity on their accounts.
We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.
— Crypto.com (@cryptocom) January 17, 2022
We have a small number of users reporting suspicious activity on their accounts.
We will be pausing withdrawals shortly as our team is investigating. All funds are safe.
A few hours ago, Crypto.com stopped withdrawals from its platform in response to several “thefts” reported by customers. Dogecoin (DOGE) founder Billy Markus has spotted a suspicious transaction pattern on Etherscan that has prompted the company to halt all transactions until it finds out what is happening on its platform.
Internal system transfers and funds are safe? Inside job gone awry like office space? Hackers taking funds from an exchange hot wallet? ♂�?
Never a dull day in the world of crypto.
— Shibetoshi Nakamoto (@BillyM2k) January 17, 2022
Are internal system transfers and funds safe? Internal work gone wrong, like office space? Hackers withdrawing funds from the hot wallet of an exchange?
No day is dull in the world of cryptocurrencies.
Ben Baller, a crypto enthusiast and jeweler, claimed that his account had been compromised, losing 4.28 Ether (ETH) (about $15,000). It also said that it used two-factor authentication, so the alleged perpetrators must have bypassed some of Crypto.com’s security features.
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
Cointelegraph has reached out to Crypto.com for more details on its decision to stop withdrawals, but has not received a response at press time. This article will be updated pending new information.
The cryptocurrency industry is no stranger to hacks, scams, and protocol attacks. Earlier this month, decentralized financial security platform and bug bounty service Immunefi revealed that losses from hacks, scams, and other malicious activity exceeded $10.2 billion in 2021.
According to the report, there were 120 cryptocurrency exploits or fraudulent rug pulls, with the highest value hack being the Poly Network, worth $613 million.