Crypto.com Hacked For $15 Mln's In Ethereum.

Crypto.com Hacked For $15 Mln's In Ethereum.

2022-01-18 | Daniel Smith

Crypto.com Hacked For $15 Mln's In Ethereum.

As per blockchain security firm PeckShield, prominent crypto exchange Crypto.com has compromised over $15 million in Ethereum (ETH) to attackers.

Tornado Cash, an Ethereum-powered coin mixing platform, is helping to launder half of the stolen cryptocurrency.

Recently on Monday, Crypto.com said that withdrawals had been blocked owing to "unusual activities." Some people began to express their dissatisfaction with the loss of monies.

It required 14 hours for the Singapore-based firm to begin withdrawals.

In a subsequent Twitter discussion, CEO Kris Marszalek stated that no client monies had been stolen. He also stated that in reaction to the event, the Crypto.com team has strengthened the exchange's network. The exchange is currently investigating the security problem internally.

Numerous Twitter users chastised Crypto.com for failing to disclose how much cryptocurrency was lost as a result of the breach.

Whilst rug pulls as well as hacks are common in the decentralized financial realm, it is unknown how a controlled exchange of this level was compromised. Marszalek has pledged to release a post-mortem report shortly as the inquiry is finished.

Early this month, American celebrity Matt Damon was chastised for a "cringe-worthy" Crypto.com advertisement that was first published the year before.

The Singapore-based Corporation paid $700 million for the naming privileges to the Staples Center in downtown Los Angeles in November.

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