The crypto exchange app, Crypto.com has recently revealed early Thursday morning they lost over $34 million in Bitcoin and Ethereum after they were hacked on January 17th.

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The stealing of $34 million worth of crypto was stolen due to the crypto exchange platform being hacked on Monday, 17 January 2022 at 12:46 AM. The company’s risk monitor system detected unauthorised withdrawals on many users’ accounts without being approved by the platform’s two factor-authentication control being inputted by the account’s user. The unauthorised activity prompted multiple Crypto.com teams to assess and investigate the suspicious activities. During its investigation, the company suspended all withdrawals on its platforms.

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As a result of the hack, Crypto.com changed the architecture of its two-factor authentication system as well as revoked all existing 2FA tokens. The change in the system has caused all users to switch over to the platform’s new two-factor authentication system.

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According to a blog post from Crypto.com, the total value of crypto withdrawn amounted to 4,836.26 ETH ($15.3M), 443.93 BTC ($18.7M), and approximately $66,200 in other currencies. The company has disclosed that about 483 Crypto.com users had their accounts compromised by the hack and have offered affected users full reimbursement for their losses.

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