Crypto.com lost $15 million worth of cryptocurrencies in a cyberattack

The crypto exchange has not officially confirmed the reports of its accounts’ hacking

18.01.2022 - 11:25

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2 min

What’s new? The Crypto.com cryptocurrency exchange has become a major target for cybercriminals, with around 4600 ethers ($15 million) stolen from some of the exchange’s accounts. This was reported by PeckShield, a security and data analytics company. It also cited the blockchain data showing that half of the stolen cryptocurrencies were laundered using TornadoCash.

The @cryptocom loss is about $15M with at least 4.6K ETHs and half of them are currently being washed via @TornadoCash https://t.co/PUl6IrB3cp https://t.co/6SVKvk8PLf pic.twitter.com/XN9nmT857j— PeckShield Inc. (@peckshield) January 18, 2022

How did the events develop? The cyberattack came just a day after the cryptocurrency exchange suspended the withdrawals amid suspicious activity:

“We have a small number of users reporting suspicious activity on their accounts. We will be pausing withdrawals shortly, as our team is investigating.”

However, Crypto.com then stressed that all the funds were safe. The crypto exchange has not officially confirmed the reports of its accounts being hacked.

What is known about the exchange? Over the past few years, Crypto.com has become one of the world’s largest cryptocurrency exchanges. It has made several high-profile sponsorship deals, mostly in sports, to promote its brand. Most recently, the platform’s venture capital arm offered a partnership to tech reporter John Russell.

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