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Crypto.com Halts Withdrawals, Potential Hack Suspected by Community
Last Updated: January 17, 2022
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After noticing a potential breach into user accounts, Crypto.com stopped all transactions on the platform until further notice.
On January 17th, one of the largest crypto exchanges Crypto.com announced that there has been malicious activity on the platform, with multiple users reporting lost funds from their wallets. However, Crypto.com assured that "all funds are safe."
However, the creator of Dogecoin Billy Markus chimed in with his own investigation. He highlighted that multiple transfers were made to an anonymous wallet address from Crypto.com, and had a pattern of "2-5 ETH" per transaction in a matter of minutes, which may indicate unauthorized activity.
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Likewise, he was skeptical about the funds being "safe", because Etherscan shows that the funds were already moved to another digital wallet.
Crypto exchanges and wallets had a tough start to the year, with malicious activity happening all across the board. Just a week ago, the LCX hot wallet was compromised, resulting in an $8M loss in digital assets.
Not only that, Kaspersky warned digital wallet users about a North Korean hacker group that is currently targeting the crypto industry via planned attacks, and openly advertising its SnatchCrypto campaign.
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