Large cryptocurrency wallet and platform Crypto.com suspended temporary withdrawals after “a small number of users reported suspicious activity on their accounts”, but all funds are reportedly safe for now.
A few hours ago, Crypto.com suspended withdrawals from its platform in response to several “thefts” reported by customers. Dogecoin (DOGE) founder Billy Marcus noticed a suspicious transaction pattern on Etherscan that put the company on hold until it found out what was going on with the platform.
Crypto-enthusiast and jeweler Ben Baller claimed that his account was hacked, which resulted in him losing 4.28 ETH (about $ 15,000). He also said he used two-factor authentication, so the alleged perpetrators must have circumvented some of Crypto.com’s security features.
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Cointelegraph contacted Crypto.com for more information about their decision to stop withdrawing funds, but had not received a response during the press conference. This article will be updated with new information.
The cryptocurrency industry is no stranger to hacking, fraud and protocol exploitation. Earlier this month, the decentralized financial security platform and rewards service Immunefi found that losses from hacks, scams and other malicious activities exceeded $ 10.2 billion in 2021.
According to the report, there were 120 crypto-exploits or scams, with the most valuable hack on the $ 613 million Poly network.
