Hacks and breaches are part and parcel of life these days, with the pandemic seeing them reach all-time highs, but the manner in which some companies have handled it, leaves a lot to be desired.
Case in point Crypto.com, which recently got the naming rights to the iconic Staples Center (pictured above), but failed to fully disclose a hack in which roughly 400 user accounts were impacted.
The divulging of the hack only came when Crypto.com CEO, Kris Marszalek, appeared on Bloomberg TV this week to explain.
While we can appreciate Marszalek coming forward to disclose the details, the confirmation only came after several users noted a loss of funds in their accounts, with little to no response or feedback from the company on the matter.
JUST IN: CEO @cryptocom’s Kris Marszalek discusses the site's recent hack with @BloombergTV’s @emilychangtv. "Customer funds were never at risk." #TheYearAhead pic.twitter.com/YlCtGO60t5
— Bloomberg Live (@BloombergLive) January 19, 2022
To the company’s credit, however, it did say that operations were back online within 13 to 14 hours after the incident was initially reported, with those users impacted also receiving reimbursements.
What interests us more though, is how much funds were pilfered and why hackers only chose to target around 400 users from a platform that is one of the largest of its kind on the planet. An estimated $15 million in ETH is being rumoured, but that remains unconfirmed at the time of writing.
Either way, anyone with a Crypto.com account has been advised to rest their two-factor authentication if they have not already.
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Earlier today a small number of users experienced unauthorized activity in their accounts. All funds are safe.In an abundance of caution, security on all accounts is being enhanced, requiring users to:
-Sign back into their App & Exchange accounts
-Reset their 2FA— Crypto.com (@cryptocom) January 17, 2022
For those concerned over the incident or simply curious as to how the hack happened, Marszalek told Bloomberg TV that a full post mortem would be detailed on the company’s blog in the coming days.
