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After Suffering From A Hack, Crypto.com (CRO) Restricts Withdrawals For All Users
Crypto.com has been hacked. The cryptocurrency exchange made the announcement in the early hours of Monday following user reports of suspicious behaviour on their accounts. It is the first centralised exchange to be hacked in the year 2022, following a year in which multiple hacks cost exchanges and consumers billions.
Crypto.com (CRO) Is Compromised
Users of the Crypto.com exchange began reporting account difficulties. Subsequently, these users discovered that their accounts had been compromised and that their cryptocurrency amounts had been depleted. In some instances, the hacker made off with the whole balance of the accounts.
Crypto.com addressed these concerns on Twitter. In reaction to revelations of the theft, the cryptocurrency exchange quickly stated that it would suspend withdrawals for all customers on the site while assuring them that their cash remained safe.
The tweet highlighted that the hack affected just a small number of individuals. However, users of the network erupted in protest, claiming that this was not the case. The amount of complaints on social media about users losing money as a result of the attack has been steadily increasing. Most had considerable amounts of cryptocurrency stolen and pleaded with the exchange to take action against the incident.
Proceed with Caution
Following the hack's disclosure, Crypto.com immediately suspended all withdrawals from its platform. Users were unable to withdraw funds and those who had pending withdrawals were unable to complete their transactions. This was done to prevent the hacker(s) from performing any more withdrawals from the affected users' accounts.
The hack is believed to have occurred when attackers discovered a technique to circumvent the exchange's two-factor authentication security procedures. This caused Crypto.com to notify users that they must reset their 2FA credentials and log back into the platform to recover access to their accounts.
The cryptocurrency exchange stated that this update will be gradually rolled out to consumers. Withdrawals will thereafter be enabled, allowing users to send monies out of the exchange. "While we recognise this may be inconvenient, security always comes first," the conversation stated.
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By Crypto PiratesCrypto.com has been hacked. The cryptocurrency exchange made the announcement in the early hours of Monday following user reports of suspicious behaviour on their accounts. It is the first centralised exchange to be hacked in the year 2022, following a year in which multiple hacks cost exchanges and consumers billions.
Crypto.com (CRO) Is Compromised
Users of the Crypto.com exchange began reporting account difficulties. Subsequently, these users discovered that their accounts had been compromised and that their cryptocurrency amounts had been depleted. In some instances, the hacker made off with the whole balance of the accounts.
Crypto.com addressed these concerns on Twitter. In reaction to revelations of the theft, the cryptocurrency exchange quickly stated that it would suspend withdrawals for all customers on the site while assuring them that their cash remained safe.
The tweet highlighted that the hack affected just a small number of individuals. However, users of the network erupted in protest, claiming that this was not the case. The amount of complaints on social media about users losing money as a result of the attack has been steadily increasing. Most had considerable amounts of cryptocurrency stolen and pleaded with the exchange to take action against the incident.
Proceed with Caution
Following the hack's disclosure, Crypto.com immediately suspended all withdrawals from its platform. Users were unable to withdraw funds and those who had pending withdrawals were unable to complete their transactions. This was done to prevent the hacker(s) from performing any more withdrawals from the affected users' accounts.
The hack is believed to have occurred when attackers discovered a technique to circumvent the exchange's two-factor authentication security procedures. This caused Crypto.com to notify users that they must reset their 2FA credentials and log back into the platform to recover access to their accounts.
The cryptocurrency exchange stated that this update will be gradually rolled out to consumers. Withdrawals will thereafter be enabled, allowing users to send monies out of the exchange. "While we recognise this may be inconvenient, security always comes first," the conversation stated.
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