• Crypto.com shared an investigation report into the security incident that affected 483 users on the exchange. 
  • Unauthorized withdrawals through a breach of the 2-Factor authentication infrastructure led to a loss of $34 million. 
  • The exchange reimbursed affected users and published a report outlining details of the incident. 
  • Regulators have yet to reach the exchange for details of security breach, CEO is prepared to offer reports. 

Crypto.com suffered a security incident, where users lost $34 million in Bitcoin, Ethereum and other cryptocurrencies. The exchange has reimbursed users and published a report of the incident. 

400 users lost funds in security incident on Crypto.com exchange

Crypto.com finished the investigation and published a report on the failure of its 2-factor authentication infrastructure and unauthorized withdrawals. The exchange revealed that 400 accounts suffered the security breach, and CEO Kris Marszalek is ready to share reports with regulators. 

Crypto.com price (the native token of Crypto.com exchange) increased after an investigation report was published. On Tuesday, Crypto.com users reported the loss of funds when cryptocurrencies were wiped out of their accounts. 

CEO Marszalek has confirmed that all customers have been reimbursed. Crypto.com revamped its 2-Factor authentication infrastructure to fight such security breaches in the future. Regulators are yet to reach out to the exchange, as the team remains prepared to share details of the security breach, loss of funds and their reinstatement. 

Crypto.com price had dropped in response to news of the security breach. Since the release of the report and CEO Marszalek’s assurance of new measures being implemented, there has been a recovery in the native token’s price. 

@DaCryptoGems, a pseudonymous cryptocurrency analyst, has evaluated the Crypto.com price trend. The analyst predicted that the token could confirm double bottom before price breaks through downtrend and starts a new uptrend. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

What Shiba Inu price needs to do to trigger a breakout

What Shiba Inu price needs to do to trigger a breakout

Shiba Inu (SHIB) price is seeing a bit of a pullback and could drop even further in search of support after bulls failed to keep their act together during the recent rally and began grasping at early profits. 

More Shiba Inu News

Former Ripple CTO is dumping millions of XRP, traders beware

Former Ripple CTO is dumping millions of XRP, traders beware

XRP price shows promise that it is ready to trigger a massive run-up as the first half of the year comes to an end. There are three reasons why investors should be bullish on Ripple.

More Ripple News

Is Cardano’s Vasil hard fork a ‘sell the news’ event?

Is Cardano’s Vasil hard fork a ‘sell the news’ event?

Cardano price looks like it will face a massive amount of selling pressure that could lead to choppy price action. However, the fundamental side of things looks good for ADA considering the recent update regarding the highly anticipated Vasil hard fork.

More Cardano News

New sources affirm USDD is on a path to collapse like Terra’s UST

New sources affirm USDD is on a path to collapse like Terra’s UST

Tron launched its stablecoin USDD in May, at the same time as Terra’s sister tokens LUNC (formerly LUNA) and UST were imploding. The stablecoin recently detached from its $1 peg, sparking fears of a crash. 

More Terra News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis