Crypto.com CEO confirms hundreds of accounts were hacked, hedges on other details

The image is by Alex Castro.

Kris Marszalek, the CEO of the exchange, has finally confirmed that hundreds of user accounts were compromised by hackers and that funds were stolen.

In an online interview with Bloomberg, Marszalek said that around 400 customer accounts had been compromised. Since the attack was first disclosed, he has not received any outreach from regulators, but would share information if asked.

The previous statements from Marszalek have been criticized for being vague. An official messaging from the company referred to a security incident, and an early post on the social networking site mentioned a small number of users were reporting suspicious activity on their accounts.

Some commentators interpreted Marszalek's statement that "no customer funds were lost" to mean that the exchange would take the financial hit rather than passing it on to customers.

I had some thoughts on the last 24 hours.
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Customer funds were not lost.
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The downtime of withdrawal was 14 hours.
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The infrastructure has been hardened in response to the incident.
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After the internal investigation is finished, we will share a full post mortem.
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Kris is from Hong Kong and is the author of the novel "Kris."

According to a statement posted by the security company, the losses of Crypto.com amounted to over 15 million dollars and were being sent to Tornado Cash to be washed. Tornado Cash is a tool that can be used to hide the final destination of ether being sent into it, a service that can easily be used to launder the proceeds of theft and other crimes.

One of the most recognizable brands in the criptom world is the Crypto.com exchange, which has a number of sponsorship deals with sports teams, including a $700 million deal with the Los Angeles Lakers.

The UFC fight league, the Philadelphia 76ers NBA team, the NHL's Montreal Canadiens, and the Australian Football League have all signed deals with the exchange.

Exchanges are some of the most high-value targets for hackers to compromise as the size and user base of thecryptocurrencies industry continues to grow. According to NBC News, there were more than 20 exchange hacks where the hacker escaped with more than $10 million in profit over the course of the year.