Crypto.com Finally Acknowledges $34 Million Stolen by Hackers

Trading platform Crypto.com lost about $34 million worth of cryptocurrency in a hack on Monday, according to a new blog post by the company published overnight. The company had previously declined to say much about the hack, which forced users to stop withdrawals for most of the day, and only reassured customers they wouldn’t lose any money.

Hackers made off with 4,836.26 ethereum, 443.93 bitcoin, and approximately $66,200 in other crypto coins from precisely 483 users, according to the company. Crypto.com, which has about 10 million users, halted all withdrawals on Monday for about 14 hours after “suspicious activity” was detected, and forced all users to reset their two-factor authentication methods.

The ethereum that was taken is worth about $15.3 million and the bitcoin is worth $18.6 million at today’s conversion rate, bringing the grand total to about $34 million in lost funds. But Crypto.com is quick to note that no users have lost any money because the company has topped up their accounts.

[…]

The unknown hackers are currently trying to launder their stolen crypto using crypto mixers, as Gizmodo reported yesterday. The ethereum is being laundered through an app called Tornado Cash, which bills itself as a privacy tool. The bitcoin appears to be getting laundered through an unknown bitcoin mixer, sometimes known as a tumbler or peel chain.

[…]

Source: Crypto.com Finally Acknowledges $34 Million Stolen by Hackers

Organisational Structures | Technology and Science | Military, IT and Lifestyle consultancy | Social, Broadcast & Cross Media | Flying aircraft