01/17/2022
Crypto.com was hit with a suspicious activity which made it temporarily halt withdrawals.
The company said that some users reported suspicious activity, but all funds are safe now.
Dogecoin founder Billy Markus noticed distrustful transactions on Etherscan, which made the company pause transactions.
Major cryptocurrency platform Crypto.com has temporarily stopped withdrawals due to a few users’ reports of suspicious activity on their accounts. The company said that all funds are safe at the moment.
We have a small number of users reporting suspicious activity on their accounts.
We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.
— Crypto.com () January 17, 2022
Hours ago, Crypto.com ceased withdrawals from the platform in response to the theft of user accounts. Dogecoin founder, Billy Markus found a distrustful transaction pattern on Etherscan that caused the company to put the transaction to a temporary halt. The transaction process will be back to normalcy after resolving the issue.
I see odd activity on one of the Ethereum hot wallets on https://t.co/AbuAAkBxG1 – https://t.co/7l7MgCLnoG
It’s a pattern, the wallets receiving look like this https://t.co/2Gf48D3fqm, multiple of the same transactions to a new wallet between 2-5 ETH, funds not moved after that. https://t.co/tbGJ5RqpXS
— Shibetoshi Nakamoto () January 17, 2022
A cryptocurrency enthusiast and jeweler, Ben Baller asserted that his account was contravened, losing 4.28 ETH, which is nearly $15,000. He also claimed that he used two-step authentication, so the perpetrators must have gone past some of the security features of Crypto.com.
Since the advent of the crypto industry, many hacks, protocol exploits, and rug-pulls have been reported. According to a finding by decentralized finance security platform and bug bounty service ImmuneFi unveiled that losses due to scams, hacks, and other malicious activities exceeded over $10.2 billion dollars in 2021. Furthermore, 120 cases of fraudulent rug-pulls or crypto exploits were reported and the Poly Network was hit with the highest valued hack at $613 million.
