The platform’s CEO assured that affected users were reimbursed and that the loss is not “particularly significant” given the “scale of the business”.
Crypto.com , el tercer exchange the largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange by trading volume, finally admitted to having suffered a hacking hacking is the process of using a computer to manipulate another computer or computer system in an unauthorized fashion. attack that generated losses of more than USD $30 million to its users.
The Singapore-based exchange confirmed the security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. breach on a informe published this Thursday in which they revealed that more than 400 users were affected . The figure stolen by the cyber attackers also exceeded the initial estimates .
Crypto.com said that USD $15.1 million was lost in Ethereum a decentralized open-source blockchain with smart contracts functionality. USD $18.6 million in Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. and a few thousand dollars in other cryptocurrencies for a total of $33.8 million at current prices.
The incident affected 483 Crypto.com users. Unauthorized withdrawals totaled 4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies.
What happened to Crypto.com?
The report comes just a few days after the platform a place to buy, sell and store cryptocurrency will pause its retreats on Monday due to reports from customers who claimed to have detected “ suspicious activity “on their accounts. At that time, Crypto.com indicated that “ a small number of users ” had experienced “ unauthorized activity “The company did, however, assure that all funds were safe.
The platform also said it was strengthening its security measures. All two-factor authentication authentication is a process that confirms a user's identity using passwords, SMS codes, fingerprints, and other forms of ownership proofs before granting access to sensitive and/or personal information. (2FA) protocols were reset, and all users were asked to repeat the security verification step.
The interruption of withdrawals on the exchange was accompanied by several complaints from users on social networks claiming to have lost funds. However, the exchange reiterated on Twitter that no losses had been caused.
Later, an analysis by the research firm Blockchain, PeckShield, reveló that the hackers had extracted at least 4,830 ETH to Crypto.com during the incident. Investigators did not provide details on how the hack was carried out, but indicated that the hackers were sending the stolen funds to the mixer. Tornado Cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. to obfuscate the trail of coins.
PeckShield also told Decrypt which considered that the damage could be “ definitely peor “. That analysis was followed by another external report that highlighted that, in addition to the $15 million in ETH, blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. data showed that more than 400 million dollars in ETH were being invested in the company. bitcoins had been diverted from a wallet a place where cryptocurrency users can store, send and receive digital assets. of Crypto.com .
Despite the evidence, the exchange had initially denied the hack. Also its CEO, Kris Marszalek, had claimed on Twitter that “ no client a client is software that can access and process blockchain transactions on a local computer. A common application of this is a cryptocurrency software wallet. funds were lost “.
All affected accounts were reimbursed
Prior to the release of the security autopsy, Marszalek had an appearance on Bloomberg TV on Wednesday night where he stated that more than 400 of the exchange’s accounts had been hacked following a security breach.
The CEO confirmed during the program that the attackers made unauthorized withdrawals on the affected accounts, but that the company had acted quickly to stop the theft after detecting that “ some of the layers of defence were breached “. He added that on the same day “ all accounts that were affected were reimbursed, so there was no loss of client funds ”.
Also, when asked about the real extent of the losses for the company, Marszalek said that “ given the scale of the business, these numbers are not particularly important. “.
— Bloomberg Live (@BloombergLive) January 19, 2022
The final post-mortem revealed that the security incident occurred due to issues with 2FA. In response to what happened, the exchange announced that it is launching a Worldwide Account an account is essentially a whose purpose is to track the financial activities of a specific asset/ Protection Program (WAPP), designed to protect users in case of unauthorized withdrawals.
According to the exchange, WAPP will include layers of security to protect against phishing when a scammer pretends to be a trusted institution or person to trick people into revealing sensitive information such as Social Security numbers, passwords, banking details, etc., often through a malware link disguised as legitimate. attacks, as well as a multi-factor authentication (MFA) system to replace the existing 2FA two-factor authentication (2FA) is method of access that requires two different forms of authentication. protocol. It also enables the restoration of funds up to USD $250,000 for users who have updated the security measures on the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. .
- Crypto.com exchange allegedly hacked for $15 million worth of Ether the form of payment used in the operation of the distribution application platform, Ethereum.
- Bitmart was hacked and USD $200 million was taken in 20 different cryptocurrencies
- Pakistani authorities asked Binance for support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. after scam a scheme that is designed to dupe people out of cash or crypto. that stole millions of dollars in cryptocurrencies
Article versioned by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash