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Crypto.com shuts down withdrawals after suspicious activity

Cryptocurrency exchange and digital wallet Crypto.com temporarily paused withdrawals over worries of “suspicious activity,” according to a post the company shared on Twitter. Dogecoin founder Billy Markus was first to post about the unusual trading pattern and flagged the issue on Twitter. While the company late Sunday assured users “all funds are safe,” some on Twitter were quick to slam the company — and allege that their wallets had been hacked. Most of those users now report their funds have been restored to their wallets. Crypto.com referred The Post on Tuesday to a series of tweets that said no customer funds had been lost and that certain of the company’s infrastructure that allows for withdrawals had been down for around 14 hours. “Our team has hardened the infrastructure in response to the incident,” the Crytpo.com statement said, promising a full post-mortem after an investigation was complete. One crypto user with nearly 350,000 Twitter followers, who posts under the handle @BENBALLER complained 4.28 ETH has been sold and questioned how a hacker made it past two-factor authentication which is supposed to make accounts more secure. He later shared that his wallet had been refunded. We have a small number of users reporting suspicious activity on their accounts. We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.— Crypto.com (@cryptocom) January 17, 2022 It’s still unclear how the hackers got past Crypto.com’s security. But one blockchain security firm, PeckShield Inc., alleged as much as $15 million worth of Ether had been stolen from users’ wallets. The most recent snafu underscores the difficulty crypto companies face. According to data from security software firm ImmuneFi, more than $10.2 billion in crypto was stolen as hacks and scams remain prevalent in the world of cryptocurrencies.




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