Cryptocurrency exchange Crypto.com has reportedly fallen victim to a hack, with at least $15 million worth of Ethereum stolen.
Despite reports of missing funds, the platform has yet to confirm that it has indeed been attacked.
With almost $3 billion in trading volume in the last 24 hours, Crypto.com is the industry’s fourth-largest centralized crypto exchange, according to CoinGecko.
A household name in Asian markets, the Singapore-based exchange recently spent $700 million to buy the naming rights to the Staples Center—the Los Angeles home venue of the NBA's Lakers and Clippers.
Watch out, FTX and Coinbase. Crypto.com is coming for Bitcoin-loving basketball fans.
The Singapore-based exchange today announced that it has secured the naming rights to the Staples Center—the Los Angeles home to the NBA's Lakers and Clippers as well as the WNBA's Sparks and NHL's Kings—for the next 20 years.
The deal between Crypto.com and stadium owner and operator AEG is reportedly worth $700 million, dwarfing the $135 million deal rival exchange FTX struck this May to get naming rights for...
On Monday, Crypto.com announced it was pausing withdrawals after “a small number of users experienced unauthorized activity in their accounts,” stressing that “all funds are safe.”
Citing the need to enhance security, the exchange also urged users to sign back into their accounts and reset their two-factor authentication (2FA).
1/2 Earlier today a small number of users experienced unauthorized activity in their accounts. All funds are safe.
In an abundance of caution, security on all accounts is being enhanced, requiring users to:
-Sign back into their App & Exchange accounts -Reset their 2FA
Despite users complaining about funds missing from their accounts, and Dogecoin co-founder Billy Markus pointing to “odd activity” on one of the Ethereum wallets associated with Crypto.com, the exchange announced that withdrawals had resumed at 17:42 UTC on Monday.
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The events took a turn for the worse when security research company Peckshield took to Twitter in the early hours on Tuesday to reveal that Crypto.com has lost at least 4,600 ETH (around $15 million in current prices).
Peckshield added that half of the stolen funds were sent to Tornado Cash, the Ethereum-centric mixing service.
Peckshield told Decrypt via a Twitter message that the true scale of the damage is “definitely worse.”
Quite remarkably, a few hours later, Crypto.com CEO Kris Marszalek said that no customer funds were lost.
According to Marszalek, the exchange “has hardened the infrastructure in response to the incident” and “will share a full post mortem after the internal investigation is completed.”
Some thoughts from me on the last 24 hours:
- no customer funds were lost - the downtime of withdrawal infra was ~14 hours - our team has hardened the infrastructure in response to the incident
We will share a full post mortem after the internal investigation is completed.
Formula 1 has renewed its partnership with exchange platform Crypto.com, extending the agreement through 2030 as both entities seek to capitalize on their shared momentum.
The renewed partnership will see Crypto.com continue to feature prominently at key Formula 1 events, including the Miami Grand Prix, where it has been the title sponsor since the race’s inception in 2022.
The deal, first inked in 2021, marked Formula 1’s foray into the crypto world at a time when digital assets were experienc...
Mo Shaikh, a co-creator of the Aptos blockchain and co-founder and CEO of the Aptos Labs firm that helps support it, announced Thursday that he's leaving the company to focus on a "new chapter."
"Today, I am stepping away from Aptos Labs to start a new chapter," Shaikh wrote on X. "One of my true passions lies in building companies from the ground up, and we have done that at Aptos Labs by building a world-class team."
"I leave Aptos Labs with the utmost confidence in the team," he continued, "a...
Building on the momentum of anticipated changes to U.S. crypto policy, Binance.US said it aims to restore its USD services in early 2025, according to a statement shared with Decrypt.
It marks the exchange's first major operational shift as regulatory pressure forced the exchange to suspend fiat trading last year.
The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals.
"While I can't provide a de...
