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Crypto.com holds withdrawals due to ‘abnormal activity’

Dogecoin founder Billy Markus saw an abnormal transaction pattern on Etherscan that precipitated the organisation to halt all transactions for the time being.

Major crypto pockets and platform Crypto.com has quickly halted withdrawals after “a small variety of users reporting abnormal recreation on their accounts,” however all cash is reportedly safe at the moment.

A few hours ago, Crypto.com halted withdrawals from its platform in response to several “thefts” via customers’ accounts. Dogecoin (DOGE) founder Billy Markus saw an abnormal transaction sample on Etherscan that precipitated the company to halt all transactions until they figured out what used to be going on with their platform.

Ben Baller, a cryptocurrency fanatic and jeweller, claimed that his account was once breached, dropping 4.28 Ether (ETH) (about $15,000). Ben also said that he used two-factor authentication, so the alleged perpetrators need to have bypassed some of Crypto.com’s protection features.

An official statement is still pending from Crypto.com for holding the withdrawals, hence this article will be updated pending new information.

The cryptocurrency industry is no stranger to hacks, rug-pulls and protocol exploits. Earlier this month, decentralised finance protection platform and bug bounty provider ImmuneFi found that losses from hacks, scams and different malicious activities exceeded $10.2 billion greenbacks over 2021.
Per the report, there had been one hundred twenty crypto exploits or fraudulent rug-pulls, the highest-valued hack being the Poly Network at $613 million.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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