Crypto.com Hack: CEO Confirms Breach on Hundreds of Accounts; What Action to Take?

Crypto.com, a platform known for an advertisement involving Matt Damon, faced a hack on its systems earlier, with its CEO Kris Marszalek confirming this security incident. The CEO and the company confirmed this was happening on social media, saying that the company was aware of the breach. Several users got their accounts accessed in the process.

Crypto.com Hack: CEO Confirms Breach on Multiple Accounts

Crypto.com confirmed the attack it discovered on its platform initially on January 18, and it is only more than 24 hours since the event occurred on the platform. Here, the company said that a small number of accounts got accessed, but there were no losses in the funds or cryptocurrencies of the users in this occurrence.

The crypto platform said that users should re-login their accounts and enable two-factor authentication (2FA) to avoid further breaches. The company also said that despite the confirmed hacks, it is into the threat actors and is investigating them to identify the culprits behind them while continuously improving its security.

CEO Kris Marszalek also confirms the hack in his tweets, but the CEO commends his platform for handling it the best they can, with no funds getting stolen.

Crypto.com Hack: What are the Steps it Took After?

The company said in its tweets that it already brought a security update that changes the way it runs the platform, now focusing on the safety and security of its users. The new update will also prevent further access to accounts, and the company is closely monitoring any changes in its services, with an investigation underway to determine the culprits.

Cryptocurrency and the Breaches in the Industry

Cryptocurrency and the entire blockchain industry faced a record in 2021 for the total hacks and breaches that ultimately stole a sum of $14 billion from users.

However, a lot still believe that hacks in 2022 will lessen compared to 2021, and it would have a better time this year, veering away from the internet's dangers and vulnerabilities online.

A hacking campaign is even present in the industry today, and people should be wary of the event now called "SnatchCrypto" that aims to steal the digital currency. Threat actors take advantage of the online structure of cryptocurrency in the present age, especially as more people are into these online platforms that hold one of the top industries in the world.

Nevertheless, these platforms aim to better themselves and up their security game for the usage and safety of their users. Crypto.com's recent hack got discovered immediately, and its makers changed its security measures for the better of its users.

Crypto.com's platform promises a safe exchange now despite the hack, says its CEO.

This article is owned by TechTimes

Written by Isaiah Richard