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Crypto.com CEO confirms 400 accounts were compromised in recent hack

Quick Take The Crypto.com CEO acknowledged the hack but said customer funds were not in any danger. He added that the funds stolen were immaterial to the business. Crypto.com CEO Kris Marszalek has confirmed that the crypto exchange did suffer a security breach, as reported this week. Appearing on Bloomberg TV on Wednesday, Marszalek stated that about 400 accounts were affected in the hack. Marszalek stated that the attackers carried out unauthorized withdrawals from the affected accounts but that the …

On-chain analyst claims Crypto.com hack was closer to $33 million

Quick Take The Crypto.com hack may also have included 444 BTC (18.4 million) stolen from the exchange’s custodial wallet. The alleged attacker has laundered 271 BTC ($11.25 million) via a bitcoin tumbler often used by North Korean hackers. The Crypto.com security breach that allegedly led to the theft of 4,830 ETH ($15 million) as previously reported might be closer to $33 million, according to the pseudonymous ErgoBTC, an on-chain analyst at bitcoin (BTC) research outfit OXT Research. Per ErgoBTC’s tweet …

Crypto.com allegedly suffers $15 million breach in latest exchange heist

At least 4,830 ETH ($15 million) has been stolen from crypto exchange platform Crypto.com, according to blockchain researchers PeckShield. Per blockchain records, it appears the alleged hacker has laundered almost all of the proceeds from the incident via TornadoCash, a “coin mixer” that serves to obfuscate the on-chain link between the source and destination of transactions on the Ethereum blockchain. The attacker began laundering the siphoned funds at 12:53 AM UTC on Tuesday in batches of 100 ETH ($317,000) per …

Crypto.com’s venture fund hires former tech journalist Jon Russell

Crypto.com Capital has named former TechCrunch journalist Jon Russell as its newest partner, according to an announcement. The $200 million venture capital fund, launched by Crypto.com in March 2021, writes cheques for up to $10 million for early stage web3 startups — and invests in both tokens and equity. It has so far backed the likes of crypto security firm Ledger, avatar-maker Genies, and DeBank, the decentralized wallet. Russell is a veteran tech journalist who spent five years at TechCrunch covering …

UK regulator bans two Crypto.com ads in latest crackdown

The UK’s marketing regulator on Wednesday said it had banned two adverts from Crypto.com following a complaint.  The first ad, seen on 1 September 2021 in the Daily Mail app, featured text which stated, “Buy Bitcoin with credit card instantly.” The second ad, seen on 30 July 2021 in the Love Balls app, promised “up to 3.5% p.a”. The number in the text increased to “8.5%.” “We understood that consumers would interpret the claim ‘Earn up to 3.5% p.a.’ which …

Crypto.com strikes multi-year deal with LA’s Angel City Football Club

Crypto.com has struck an exclusive, four-year deal to provide sponsorship as a founding partner of Angel City Football Club (ACFC), a Los Angeles-based women’s soccer team. The move marks the first direct sponsorship of a professional women’s sports team by a major cryptocurrency platform. The Singapore-based exchange said in a release that the sponsorship deal would increase access and awareness of cryptocurrencies, blockchain, and Web3 technologies among LA soccer fans, ACFC players, and across the broader ACFC organization.  Sports Business …

Crypto.com splashes $216 million to acquire two US-based derivatives platforms

Crypto.com has agreed to acquire two United States-based retail-focused derivatives exchange platforms from IG Group Holdings, according to an announcement issued on Wednesday. The deal is worth $216 million and will be paid for in cash.  The two platforms are North American Derivatives Exchange, Inc. (Nadex) and Small Exchange. According to the announcement, IG held a 39% stake in the latter prior to the sale. Nadex, based in Chicago, is a regulated derivatives exchange, offering markets like binary options, knock-outs, …