In a recent interview, Kris Marszalek, the CEO of Crypto.com, admitted that there have been a large number of cyberattacks on users of the platform. While the complaints from users had been pouring in until now there had been no official acknowledgment of the crisis that had occurred. While details of the cyberattack were not released, Kris stated that all affected parties had been compensated and the platform was back online.
Recently the platform stopped all ongoing transactions and asked users to update their two-factor authentication. They also mentioned that all user accounts are absolutely safe and in case of any loss of funds the platform will provide full compensation. The current losses are being estimated at around $15 million.
Crypto.com is a rapidly developing platform and the world’s fourth-largest in terms of daily exchanges. They are currently in the process of pursuing the American crypto market and are also investing in various companies within the segment. But, this huge cyberattack definitely sets them back in terms of growth, as certain agencies estimate the losses to be above $30 million.
The recent interview by the CEO where he discussed the cyberattack is reportedly the first time the platform has accepted the hacking took place. While they try to calm down users and ramp up cyber security measures, it can not be ignored that even the largest crypto platforms are open to hacking. Users’ crypto wallets were taken control of by the hackers and various currencies were stolen.
Cyber security has become one of the key concerns in the crypto space as well as the overall IT sector. Hackers are finding ingenious means of breaking the security barriers. If you are a crypto trader, you should definitely take note.