Hacked Crypto.com customer accounts breached earlier held $34 mn in cryptocurrencies
The digital-asset platform Crypto.com said the customer accounts hit earlier this week by unauthorized withdrawals held about $34 million in cryptocurrencies and cash. In a report released Thursday, the private company said that 4,836.26 Ethereum, 443.93 Bitcoin and $66,200 were stolen during the security breach on Tuesday. All customers have been fully reimbursed, the Singapore-based platform reiterated.
The crypto exchange, with more than 10 million users, suspended activity for 14 hours to investigate the unauthorized withdrawals from 483 customers. The platform was the latest of many over the years to suffer disruptions by hackers exploiting network vulnerabilities.
The firm’s insurance policy and account protection program cover users “in rare instances” of security breaches, Chief Security Officer Jason Lau said in the statement.
MOSCOW (Reuters) Russia's central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty.
The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems.
Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism. It eventually gave them legal status in 2020 but banned their use as a means of payment nL1N2T110W.
In a report published on Thursday, the central bank said speculative demand primarily determined cryptocurrencies' rapid growth and that they carried characteristics of a financial pyramid, warning of potential
Read more on tech.hindustantimes.com
