Seeking Alpha 2022-01-20 14:37:46

Crypto.com unauthorized withdrawals impact $34M in funds

Crypto.com (CRO-USD) says about $34M in funds are impacted by a small number of users that had unauthorized crypto withdrawals on their accounts earlier this week, according to a blog post. Following the incident, Crypto.com (CRO-USD) suspended withdrawals for all digital coins to start an investigation. No customers experienced a loss of funds, the blog reads. Still, it affected 483 Crypto.com (CRO-USD) users, with unauthorized withdrawals totaling 4,836.26 ethereum (ETH-USD), 443.93 bitcoin (BTC-USD) and approximately $66.2K in other currencies. To correct the problem, Crypto.com (CRO-USD) revamps and migrates to a new 2FA infrastructure, and launches an additional layer of security to add a mandatory 24-hour delay between registration of a new whitelisted withdrawal address, and the first withdrawal, according to the blog. Additionally, Crypto.com (CRO-USD) is introducing the Worldwide Account Protection Program, which offers more protection and security for user funds held in the Crypto.com App and Exchange. Meanwhile, Crypto.com

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