Crypto.com paused all withdrawal

[RILWAN]

It was a big hack issue thank goodness that the team paused withdrawal before it escalate beyond this present amount. The hacker made away with a huge sum of funds from customers' wallets before the withdrawal was halted.

[jaberwock]

It was a big hack issue thank goodness that the team paused withdrawal before it escalate beyond this present amount. The hacker made away with a huge sum of funds from customers' wallets before the withdrawal was halted.

That's a bad and good news at the same time because they have acted before the hacker stole all the money from that exchange. Badluck to those who got hack but they can hope for the greater good. Maybe crypto.com will compensate people that lost their funds because this exchange is somewhat popular and big. I mean they can be able to afford it and the amounts might not be big enough because not users have hacked.

Hackings inside the exchange is one of the biggest fear by most users, this is why I do not really like to store my funds inside an exchange but ill be more confident if I hodl them myself with my own private keys with me.

[Naficopa]

Hackings inside the exchange is one of the biggest fear by most users, this is why I do not really like to store my funds inside an exchange but ill be more confident if I hodl them myself with my own private keys with me.

Of course, the main funds should always be kept at addresses where only we have private keys. However, a lot of people are engaged in speculation and trading. If we only count this money, it will still be huge sums. Each of us may be unlucky that just when we buy or sell something on the exchange, it will be hacked. It's best to just use the exchanges with well-established opinion and very good security, in addition, always turn on 2FA and any other additional security.

[martyMC]

Crypto.com has been one of the really successful exchanges in recent years, a Singapore-based exchange with 10 million users and almost three thousand employees. In recent years, they have really invested well in marketing and advertising, their marketing is really serious companies. That's why I believe in the honesty of this news, they stopped withdrawals to fix the problem, in fact, exchanges do this from time to time. They will re-enable withdrawals soon, no need to worry.

No Crypto.com is not famous and mainly use for its exchange but for its credit cards and custodial wallets. Many people hold their funds on their smartphone app wallet without knowing it is not a non-custodial wallet, so the amounts this company is holding is huge.