A leading cryptocurrency exchange, Crypto.com, reported suspicious transactions despite their accounts being protected with 2FA.
- On January 17, Crypto.com users reported strange activity in their accounts.
- Even 2FA protected accounts had been compromised, and funds were drained even with this additional layer of security.
A leading cryptocurrency exchange, Crypto.com, reported suspicious transactions despite their accounts being protected with 2FA.
Crypto.com is a Singapore based cryptocurrency exchange app having 10 million users and 3,000 employees.
On January 17, 2022, CryptoCom’s official Twitter account admitted that a “small number of users” reported “suspicious activity” on their accounts.
The reports enhanced the security measures applied to access the accounts, with all customers having to sign back into their accounts. Also, the two-factor authentication (2FA) for all accounts had to be reset.
Some customers complained about not being able to reset their two-factor authentication keys, and others alleged they could not access the exchange as a consequence.
“Our team has hardened the infrastructure in response to the incident, ” said Chief Executive Kris Marszalek.
Crypto.com did not confirm the exact number of impacted customers but did assure that all funds were safe.
It is still not clear how the attackers could bypass two-factor authentication (2FA) if confirmed they have exploited some vulnerabilities in the platform.
Crypto.com users have to monitor their balance and report to the company if any suspicious transaction occurs.
Experts urged to enable both 2FA and Face ID/Touch ID to protect their accounts from unauthorised access.
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