Earlier this week, Crypto.com was the unfortunate victim of a security breach. On Thursday, the exchange confirmed that about 483 accounts were impacted by the hack, thanks to the perpetrators breaching multiple layers of security.
The “unauthorized withdrawals” made from the affected accounts were noticed last Monday. Among other things, Crypto.com also revealed that the hackers successfully stole a total of 4,836.26 ETH, 443.93 BTC, and around $66,200 in other crypto assets.
The crypto exchange paused any withdrawals from taking place for about 14 hours as soon as it detected suspicious activity. The company emphasized that the users had nothing to worry about because the funds were safe. However, it seems that this isn’t the case now.
Reports of the hack came after PeckShield, a blockchain analytics company, revealed on-chain data to show that the hackers took approximately $15 million worth of ETH from Crypto.com. Not only that, they already washed half of the amount with Tornado Cash. Some Crypto.com users, including renowned ones, took to social media to reveal that some of the Ether in their accounts were gone. Fortunately, the crypto exchange confirmed that it had already compensated all the hack victims.
Now, the exchange is adding extra security layers to the platform to prevent this unfortunate event from happening again. Now, a newly-whitelisted withdrawal address will have to wait 24 hours before being able to make its first withdrawal. Not only that, but Crypto.com is also introducing a Worldwide Account Protection Program (WAPP), which provides users fund protection reaching up to $250,000.
According to Crypto.com’s Chief Information Security Officer, Jason Lau: