Cyberattack on Crypto.com Causes $15 Million in Losses

Cyberattack on Crypto.com Causes $15 Million in Losses

The latest target of a cyber attack is none other than the major cryptocurrency exchange Crypto.com. The attack is said to have cost users and the firm some $15 million, according to a third party data and security analytics firm PeckShield. Reports say that at least 4600 individual Ether has been stolen.

PeckShield cited data that half of the stolen crypto assets have already been laundered through TornadoCash. The data is accurate as it has been taken directly from blockchain activity databanks.

A number of high-end users of Crypto.com were reported to have said that Ether had been stolen from their accounts as a result of the attack, although the company has denied all of these claims. Instead, the crypto giant commented that “Earlier today a small number of users experienced unauthorized activity in their accounts,”  

Interestingly, the attacks happened a day after the exchange halted all withdrawal services due to vague suspicious activities. The exchange commented that some users were experiencing issues and had reported on suspicious activities. A team was set to investigate, however, Crypto.com was categorical that all funds were safe.

Crypto.com has currently resumed its withdrawal processes since then and is currently in denial that any funds have actually been stolen.

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