Crypto.com Denies Claims of Hidden 2023 Data Breach

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 22, 2025

Key Takeaways

Crypto.com has denied hiding a 2023 data breach and states that the exchange followed all required reporting procedures;
Allegations arose after a hacker claimed they accessed employee credentials and exposed user data before 2023;
Critics, including ZachXBT, accused the firm of repeated breaches and a lack of transparency due to growing data concerns.

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Crypto.com $3.42B has denied accusations that it failed to report a user data breach that reportedly took place in 2023.

The situation gained attention after a Bloomberg article featured statements from Noah Urban, said to be part of the hacking group Scattered Spider.

He claimed the group gained access to a company employee's login credentials sometime before early 2023. This access may have exposed personal information belonging to some platform users.

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Following the report, blockchain investigator ZachXBT stated in a post on X that the crypto exchange had "covered up a breach" and had been "breached several times" in the past.

His remarks triggered criticism online, with many in the crypto community suggesting Crypto.com should have been more open about any incidents involving customer information, especially after Coinbase $2.38B disclosed its own data breach earlier this year.

In response, Crypto.com's CEO, Kris Marszalek, also took to X to address the claims. He said the accusations were "spreading from uninformed sources" and denied any wrongdoing.

According to Marszalek, the company had reported the issue to US authorities and to regulators in other relevant regions.

Crypto.com stressed that it followed the required process for disclosing security matters and that no attempt was made to conceal any information.

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