HomeNewsCrypto.com suffers security breach of $15M after reports of suspicious activities

Crypto.com suffers security breach of $15M after reports of suspicious activities

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Cryptocurrency platform Crypto.com has allegedly suffered a security breach of $15 million, blockchain security firm Peckshield reported the latest developments Tuesday.

According to the on-chain data, the stolen funds 4,600 ETHs were laundered via Tornado Cash, an ETH mixer protocol that offers transaction privacy by breaking the on-chain link between source and destination addresses. While the mixer protocols are used to maintain the privacy of activists or politicians, more often than not they are used to indulge in money laundering.

Peckshield reported that the Ethers were transferred in 48 batches of 100 ETH per transaction and three batches of 10 ETH per transaction between 12:53 AM UTC and 3:00 AM UTC.

The news comes following the reports of unauthorized activities confirmed by some users on January 17. Soon after, the crypto exchange suspended withdrawals to investigate the matter but said at the time that all funds were safe.

Crypto.com soon after restored the withdrawal services and reiterated that all the funds are safe. However, after once again receiving reports of suspicious activities in users’ accounts, the exchange asked its users to reset two-factor authentication.

The exchange is yet to reveal details of the investigation.





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