More than 480 users were affected and they have been fully reimbursed, said the Singapore-based exchange.
These transactions were being approved even though users did not input their two-factor authentication control.The unauthorised withdrawals involved 4,836.26 ethereum, 443.92 bitcoin and US$66,000 worth of other cryptocurrencies. The price of cryptocurrencies swing wildly but at current prices the affected withdrawals were worth about US$31 million.
"Any accounts found to be impacted were fully restored," said the company in a security report published on its website.Crypto.com said that it revamped and migrated to completely new two-factor authentification infrastructure out of an abundance of caution. "Users will receive notifications that withdrawal addresses have been added, to give them adequate time to react and respond. The notification message provides useful reminders and instructions on contacting our team if the address whitelisting was unauthorised," said the company.
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