In a recent cyber attack, leading cryptocurrency exchange Crypto.com was affected and users’ information and digital wealth were under threat. Several users took to Twitter to claim that they had lost their digital tokens from their Crypto.com wallets. Officials from the crypto exchange soon took notice of the matter and issued a public notice. As a precautionary measure, it stopped all withdrawals indefinitely. However, Crypto.com ensured that the scale of the attack was small and there was no reason to panic. However, people did panic as more and more Twitter users started reporting the loss of cryptocurrencies from their wallets. While one section claimed the victim’s claims were exaggerated or false, another section suspected something bigger than a small-scale cyberattack. With the recent developments, it seems that there is indeed something deeper to the Crypto.com cyber attack.
With more Twitter users started complaining about fund losses, experts began to suspect something deeper to the hack. One of the biggest questions about overcoming two-factor authentication remains unanswered. While Crypto.com is under a $750 million insurance policy, the details of it are not made public. There has not been any conclusive report from the crypto exchange about the number of affected people or the total amount of losses. While some people suspect foul play at an internal level, others worry about a massive attack, potentially from China or Russia. Both countries have a proven record of interfering with the sensitive data of American customers. However, everything is at a speculatory level until Cryto.com comes out with an official statement.
