483 accounts of the well-known cryptocurrency exchange Crypto.com were hacked on January 17, 2022 , thus stealing the equivalent of $ 34 million in crypto (4,836.26 ETH, 443.93 BTC and approximately $ 66,200 in other currencies). Users affected by the theft have already been reimbursed by the exchange itself.
The company has published a complete report (which we invite interested users to read ) after concluding an investigation on the subject, also in the wake of the controversies arising from the first statements that are a bit too much vague, after all service users have been forced to reset their chosen two-factor authentication method, without much explanation. This inconvenience was necessary because the company completely changed the infrastructure that governs 2FA, as the transactions were approved ( it is not known how ) without the need for the related code. The idea is to move to true Multi-Factor Authentication (MFA) in the near future.
As a further measure, the Worldwide Account Protection Program ( WAPP), which will protect the accounts of participating users, up to $ 250,000, as long as certain requirements are met, including the use of an MFA and an anti-phishing code.
It is a pity, however, that the exchange, perhaps for security reasons, has not clarified how it was possible to carry out movements without two-factor authentication. Despite the prompt measures taken, it is undoubtedly bad publicity, which comes after a very positive quarter for Crypto.com, thanks to important sponsorships and an all-time-high of its own token (CRO) at the end of November.
In short, 2022 has not started in the best possible way for the crypto world, with a first important dump of Bitcoin around Befana, and a subsequent decline that seems to be in the air and could bring it back to the values of a year ago, in spite of forecasts. who wanted it at $ 100,000 by the end of 2021. Yet another confirmation of how the crypto market is unpredictable, and of how we must always be very careful.
