DeFi exchange Crypto.com got hacked yesterday, sources say. Users reported imaginary money missing from their accounts—as researchers watched it being laundered.
But all is well! So says the Singapore-cum-China-cum-Malta-based company (and with an ownership structure like that, you know you can trust them). As CEO Kris Marszalek opaquely notes, “No customer funds were lost.”
Which presumably means $16.3M of VCs’ capital was lost. In today’s SB Blogwatch, we dance on the head of pin.
Your humble blogwatcher curated these bloggy bits for your entertainment. Not to mention: Hhhh-herbs.
DeFi: A Planet-Burning Ponzi Scheme
What’s the craic, you ask? Andrew Asmakov answers—“Crypto.com Suffers Hack for At Least $15M”:
The platform has yet to confirm that it has indeed been attacked [but] Crypto.com announced it was pausing withdrawals after “a small number of users experienced unauthorized activity in their accounts.” … A household name in Asian markets, the Singapore-based exchange recently spent $700 million to buy the naming rights to the Staples Center—the Los Angeles home venue of the NBA’s Lakers and Clippers.
Events took a turn for the worse when security research company Peckshield [said] Crypto.com has lost at least 4,600 ETH (around $15 million in current prices) [and] that the true scale of the damage is “definitely worse.” … Peckshield added that half of the stolen funds were sent to Tornado Cash, the…