Crypto.com temporarily bars withdrawals due to ‘unauthorized activity’

Singapore-based crypto exchange Crypto.com temporarily barred withdrawals after users flagged “unauthorized activity” on the platform.

Photo credit: Crypto.com

In a Twitter thread, the company said that “a small number of users” saw odd behavior in their accounts.

A cryptocurrency influencer also said that 4.28 ETH (around US$13,700) disappeared from his account. He then claimed that a crypto wallet belonging to Crypto.com had lost 5,000 ETH (roughly US$16.3 million).

While Crypto.com said that funds on its platform were safe, it cautioned users, telling them to reset their two-factor authentication settings and sign back into their accounts.

The Hong Kong-founded company has already enabled withdrawals after rolling out an update targeting the issue.

See also: How a Singapore crypto startup became a unicorn in just 2 years

Kris Marszalek, CEO of Crypto.com, reiterated that no customer funds were misplaced and that the firm already bolstered its platform in response. However, customers are still voicing out their concerns online, with some saying that they are still having issues with customer support and others sharing that they’re unable to log in to their accounts.

Currency converted from Ether to US dollar: US$1 = 0.00031 ETH.