After the crypto exchange took a huge hit due to a critical vulnerability, CEO of Crypto.com Kris Marszalek announced that the 400 affected accounts were compensated.
Crypto.com is one of the largest cryptocurrency exchanges, and, currently, has over 10M active users on its platform. On January 17th, the platform reported that there has been suspicious activity happening on customer accounts. Later on, it got confirmed that there was indeed a loophole in the platform which let hackers access customer funds.
According to a report by Bloomberg, Marszalek confirmed that 400 accounts were compromised, and is willing to share the information with regulators on what led to the hack. Likewise, he assured that all of the affected customers were reimbursed. While the exact amount of lost funds is unknown, Marszalek seemed unfazed by the unfortunate circumstances, stating:
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Fantom? | Animated FTM Explainer
"Given the scale of the business, these numbers are not particularly material and customer funds were not at risk."
While Crypto.com was highly criticized for the past couple of days and left customers worried about their digital assets, it seems as if the company just took it on the chin, and went forward to make amends for its customers affected by the hack.
With security being a huge question mark in the blockchain industry, especially with hacker groups such as BlueNoroff lurking around cyberspace, crypto giants like Binance are starting to form alliances with cybersecurity groups to prevent heavy losses and protect customers.
