Friday, July 19, 2024

Crypto.com Encounters a Cybersecurity Breach of About 400 Customer Accounts

Kris Marszalek, the CEO of Crypto.com released a statement recently mentioning that the exchange platform has not received any outreach from the regulators following a cybersecurity breach earlier this week. As revealed, Kris will be sharing all the related information regarding the hack if any associated inquiries emerge from the regulators.

Well, this has marked the latest entry of Crypto.com in the list of crypto exchanges being attacked by hackers and thieves. Marszalek said in response to this attack that all the customers who reported that cryptocurrencies have been wiped from their accounts have been compensated.

Tackling strategically, the CEO of Crypto.com mentioned the fact that the amount of theft was significantly low considering the vast expansion of the business. This attack has been taken sort of positively by Marszalek as they confirmed continuous strengthening of their infrastructure.

Though we don’t have the exact numerical values related to the theft, the estimations are somewhere around millions. Apart from this, Marszalek has affirmed that further information will be revealed through a blog post in the coming days.

Crypto.com MAS License Approval Details

Crypto.com is still awaiting license approval from the Monetary Authority of Singapore since it shifted its headquarters from Hong Kong to Singapore. It should be kept note that the MAS banned public advertising of cryptocurrencies and related products earlier this year, which impacted Crypto.com.

In accordance with the statement released by the CEO of Crypto.com, Singapore has shown great support for blockchain technology and the crypto industry. Additionally, he mentioned that Singapore is a great ground for crypto players and the number of players here is also significant.

Crypto.com is a leading crypto exchange platform with a user base of more than 10 million users and was in the headlines for purchasing the sponsorship rights to the Staples Center.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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