Cryptocurrency exchange Crypto.com experienced a hack that resulted in a $31 million loss a week ago.
Crypto.com, one of the world's leading cryptocurrency exchanges, experienced a hack earlier in the week that resulted in the loss of $31 million in customer funds. As a result, the exchange implemented additional security protocols to ensure such an action does not happen again.
However, some customers have complained that after the changes, they no longer get access to their Crypto.com accounts. The exchange said in a statement:
" Crypto.com revoked all customer 2FA tokens and added additional security measures that required all customers to re-login and set up their 2FA token to ensure only authorized activity is taking place."
Thousands of its customers were unable to log into their accounts after these changes. Cryptocurrency exchange CEO Kris Marszalek commented on the issue, stating:
"If you can't access our app this week after the access reset, 95/100 times you're simply using the wrong email address to sign in. We don't allow duplicate accounts with the same phone number, so you'll get stuck using the wrong email."
Marszalek urged customers to check their inboxes for an email from the crypto exchange. He added:
"If you cannot find it or no longer have access to it, please contact our CS. We will re-authenticate you. We help users with these cases one by one, but given our scale, it takes time. Our team is also working on a new app version that specifically communicates this via UI/UX improvements.”
He assured customers that their funds are safe and waiting for them to log back in and continue their activities.
The recent hack has resulted in over 400 customers experiencing unauthorized cryptocurrency withdrawals on their accounts. Customers lost a total of 4,836.26 ETH, 443.93 BTC and approximately $66,200 in other cryptocurrencies.
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