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Crypto.com admits that about 500 customer accounts were hacked earlier this week, over $30 million stolen

Crypto.com logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on September 28, 2021.
Crypto.com said about 500 user accounts were hacked earlier this week.

Jakub Porzycki/NurPhoto via Getty Images

  • Crypto.com officially confirmed about 500 customer accounts had been hacked.

  • The Singapore-based exchange has fully reimbursed affected users, CEO Kris Marszalek told Bloomberg.

  • The exchange had suspended withdrawals after receiving reports of suspicious activity on accounts, it said on Twitter on Sunday.

Crypto.com has confirmed that about 500 customer accounts were hacked earlier this week.

On Monday, the Singapore-based cryptocurrency exchange suspended withdrawals after receiving reports of "suspicious activities" in user accounts, Crypto.com had said on Twitter.

Crypto.com said on Thursday that the incident affected 483 users. Unauthorized withdrawals totalled 4,836.26 in ether, 443.93 in bitcoin and approximately $66,200 in other currencies, the exchange said in a blogpost. This amounts to over $30 million at current exchange rates.

"Given the scale of the business, these numbers are not particularly material, and customer funds were not at risk," EO Kris Marszalek told Bloomberg on Wednesday. Affected customers have been fully reimbursed, he said.

The exchange has not received any communication from regulators about the incident, Marszalek told Bloomberg.

"Obviously, it's a great lesson, and we are continuously strengthening our infrastructure," he told the media outlet.

Last year, Crypto.com launched an aggressive marketing campaign fronted by Hollywood actor Matt Damon. It now boasts over 10 million users. 

Read the original article on Business Insider