Attackers hacked into CyptoCom and stole $34 million

The cryptocurrency exchange reports that 483 users were attacked by hackers

21.01.2022 - 07:20

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What’s new? Singapore-based cryptocurrency exchange CryptoCom has published a report on the hack, which resulted in around $34 million being stolen from customer accounts. The company also unveiled the new rules and improved security measures.

CryptoCom’s report

What are the details of the hack? On January 17, the company noticed an unauthorized withdrawal from some accounts, and immediately suspended the transfers while it investigated. The hackers managed to withdraw approximately 444 BTC ($18,6 million), 4836 ETH ($15,6 million), and $66 000 in other cryptocurrencies from 483 users. CryptoCom stated that all affected customers were compensated.

What new rules CryptoCom has introduced? Following the investigation, the company introduced new security measures, including enhanced two-factor authorization and a 24-hour delay for the first withdrawal after registering a new address. In the future, the users will be reimbursed up to $250 000 for unauthorized withdrawals, but under certain conditions, including filing a theft report with the police.

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