Crypto.com has stressed that no customers have experienced a loss of funds — with most unauthorized withdrawals prevented.
Crypto.com has stressed that no customers have experienced a loss of funds — with most unauthorized withdrawals prevented. "In all other cases customers were fully reimbursed," it added.
The exchange explained that the vulnerability emerged after transactions were approved "without the two-factor authentication control being inputted by the user."
All withdrawals were suspended until a fix could be found, customers were told to log in again, and the company "revamped and migrated to a completely new two-factor authentication infrastructure."
"The safety of our customers’ funds is our highest priority, and we are continually enhancing our Defence-in-Depth security and protection measures. While we are reminded of the existence of bad actors intent on committing fraud, this new Worldwide Account Protection Program, along with our new MFA infrastructure, gives our users unprecedented protection of their funds, and hopefully, peace of mind."