Crypto.com CEO confirms 400 accounts were compromised in recent hack

Quick Take

  • The Crypto.com CEO acknowledged the hack but said customer funds were not in any danger.
  • He added that the funds stolen were immaterial to the business.

Update: Crypto.com has released a report stating that 4,836.26 ETH ($15.2 million), 443.93 BTC ($18.6 million), and approximately $66,200 in other cryptocurrencies were stolen during the breach. This brings the total theft to $33.8 million.

Following the attack, Crypto.com says it will strengthen its security infrastructure with the introduction of a Worldwide Account Protection Program (WAPP). According to the exchange, WAPP will include security layers to protect against phishing attacks as well as a multi-factor authentication (MFA) system to replace the existing two-factor authentication protocol (2FA).

Crypto.com CEO Kris Marszalek has confirmed that the crypto exchange did suffer a security breach, as reported this week. Appearing on Bloomberg TV on Wednesday, Marszalek stated that about 400 accounts were affected in the hack.

Marszalek stated that the attackers carried out unauthorized withdrawals from the affected accounts but that the company was able to swiftly stem the tide.

“We very quickly stopped it, we paused withdrawals,