Crypto.com Restored Withdrawals After an Unauthorized Activity

by in Cryptocurrency News

Crypto.com unauthorized activity

Crypto trading platform Crypto.com detected unauthorized activity on the platform on Jan. 17, after which it stopped deposits and withdrawals for some time.

Related: Crypto.com Grows, CRO Hits a New All-Time High

The team was investigating suspicious activities during the pause. Crypto.com stated that all funds were unaffected.

The exchange implemented an update, enhancing security on all accounts, and resumed withdrawals in several hours.

According to the blockchain security platform Peckshield analysis based on EtherScan data, Crypto.com lost about $15 M with at least 4.600 Ethers. Peckshield analysis revealed that the stolen funds were being washed via the privacy coin Tornado Cash.

As per data from CoinGecko, Crypto.com is in the top 5 cryptocurrency exchanges by daily trading volume. Recently, the company appointed tech journalist Jon Russell as an Asia-based general partner of its Web 3 fund.

Crypto.com was launched in 2016. The platform has its native token CRO, which trades at around $0.4 at the moment. In the last 24 hours, CRO price dropped by around 2.3%.