Crypto.com has suspended the withdrawal of funds from client accounts

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Singapore-based cryptocurrency platform Crypto.com has announced a temporary suspension of withdrawals. Representatives of the platform referred to suspicious activity that threatens the security of customer funds.

The platform posted an announcement on Twitter, stating that there are users who have expressed concern about the facts of unauthorized debiting.

“We have a small number of users reporting suspicious activity on their accounts. We will suspend withdrawals as our team investigates. All funds are safe,” Crypto.com said in a statement.

A portion of Crypto.com users have reported that they have lost their funds as a result of repeated unauthorized withdrawals of cryptocurrencies. At the same time, the addresses of fraudsters were not blacklisted by the exchange, and two-factor authentication did not become an obstacle to theft.

Some users have accused the platform of selling their crypto assets directly from their accounts on non-existent bids. With the proceeds, the attackers bought NFTs on the same site, users believe.

Exchange clients believe that Crypto.com is hiding the real extent of the losses.

“A few hours ago I wrote to you [Crypto.com]that 4.28 ETH was stolen from my account and I’m wondering how they passed two-factor authentication? This is wildness. After 4.28 ETH was withdrawn from my @cryptocom wallet, I started checking their ETH wallet. He’s been cleared out for about 5,000 ETH in the last six hours! So it’s not just a small number of users. It’s $16 million.” wrote Twitter user under the nickname BEN BALLER.

The Crypto.com team noted that they are investigating the cause of the problem, but did not say when the normal operation of the platform will resume.

In December 2021, the head of Crypto.com, Kris Marszalek, accused the CoinMarketCap analytical service of misrepresenting trading volume data via Twitter. The accusations came after the service downgraded Crypto.com to 14th place in the ranking of cryptocurrency exchanges.

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