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Crypto.com: $29 million stolen

Around 29 million US dollars in various cryptocurrencies were unauthorizedly debited from the crypto exchange crypto.com. The company is refunding the amount out of its own pocket.

Theft on January 17

The company noticed several debits that were not correctly verified by the two-factor authentication system. All of the debits were made on January 17. After becoming aware of this problem, the company suspended all debits and began investigating the incidents. The tokens of all customers required for authentication were reset in the course of this. Only after sixteen hours were debits allowed again.

Crypto.com did not disclose how the verification process could be bypassed and where the problem lay, even when asked by the media. Thus, the public is still unclear about the background of the theft. Furthermore, a possible general security gap with other providers cannot be closed in this way.

The only thing that is known is that the debit and verification process has now been changed significantly. From now on, after changing the debit address, debits at Crypto.com are only possible after a transition period of 24 hours. Furthermore, customers will henceforth be informed about such changes and should be given time to react. Crypto.com also announced its intention to switch to multi-factor authentication soon. However, it is not yet known how exactly this will work.

Protection program planned

The crypto exchange, which is one of the world’s leading providers, also wants to set up a crypto protection program to offer customers more security. Under this program, a refund is to be made in principle in the event of deposit loss due to unauthorized access for values of less than $250,000. The program goes by the name Worldwide Account Protection Program.

Simon Lüthje

I am co-founder of this blog and am very interested in everything that has to do with technology, but I also like to play games. I was born in Hamburg, but now I live in Bad Segeberg.

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Around 29 million US dollars in various cryptocurrencies were unauthorizedly debited from the crypto exchange crypto.com. The company is refunding the amount out of its own pocket. Theft on January 17 The company noticed several debits that were not correctly verified by the two-factor authentication system. All of the debits were made on January 17. … (Weiterlesen...)

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