If you want to invest into cryptocurrency, choosing a well-established exchange is a good start. You want reliability where you can trust that they won’t suddenly take all your money and disappear. There is also security, where you don’t want your exchange of choice hacked and having your crypto stolen.
Unfortunately for Crypto.com, a cryptocurrency exchange, it looks like they were hacked. In a post on its website, the exchange confirmed that a hack took place several days ago which resulted in over $30 million worth of bitcoin and Ethereum being stolen. But the exchange has since suspended withdrawals and reimbursed customers who were affected, so that is great news.
Crypto.com says, “On 17 January 2022, Crypto.com learned that a small number of users had unauthorized crypto withdrawals on their accounts. Crypto.com promptly suspended withdrawals for all tokens to initiate an investigation and worked around the clock to address the issue. No customers experienced a loss of funds. In the majority of cases we prevented the unauthorized withdrawal, and in all other cases customers were fully reimbursed.”
The exchange has also revoked all 2FA tokens for its users and moved to a completely new 2FA infrastructure for improved security. If you plan to trade and hold cryptocurrency, you might want to consider moving your assets to a cold wallet, which is basically an offline wallet like a USB drive. Just don’t lose it.