Well-known Cryptocurrency Exchange "Crypto.com" Gets Hacked

[Good-Guy]

Cryptocurrency is a decentralized asset that could not be controlled by anyone. However, it could be manipulated by many influential people. However, it looks like cryptocurrencies are not only manipulated by influential people rather they are also manipulated and controlled to some extent by many unknown hackers who tend to hack exchanges and steal billions of dollars of cryptocurrencies. We hear the news of such exchanges getting hacked all the time by hackers and this time an exchange known as Crypto.com has been hacked. According to some news reports, it has been hacked and it is reported that the company lost a massive amount of ETH which could be estimated valued at $15,000,000.

According to some sources, Crypto.com ranks in the top ten exchanges and it even has its own token in the market which has a total market cap of more than $11,069,000,000. The exchange was also promoted by a few Hollywood actors and it has approximately 10,000,000 customers around the world and more than three thousand employees, according to Wikipedia. It really amazes me that such kind of exchanges with such a high security get hacked all the time and I really do not know how come hackers are actually smarter than the IT experts who work in such exchanges.

 

[btaliat]

Crypt.com is one of the exchangers I trust the most and I am even using it currently. When I saw this heading, I quickly checkedy my coins in the app and I discovered that there was nothing strange, in fact everything was intact. I just want to know when did this hacking of a thing happened? And has it been restored. This type of news to be verified to the letter in order not to cause panic among the exchanger users

 

[Alexandoy]

That website crypto.com is paying UFC a big amount of money for advertising purposes. All the shirts of UFC fighters have the name of the website emblazoned on the front side. UFC is Ultimate Fighting Championship which is the most popular mixed martial arts league. Now that the site has been hacked maybe it will have a drawback on their sponsorship of sporting events. Anyway, hacking is really big business now. Even the biggest bank in our country was recently hacked that some depositors have unauthorized withdrawals on their accounts. Fortunately the bank shouldered the losses and the depositors were given back their money. It makes me wonder why hackers are one step ahead of the security measures of websites. There should be a better way to block the potential hackers.

 

[Good-Guy]

That website crypto.com is paying UFC a big amount of money for advertising purposes. All the shirts of UFC fighters have the name of the website emblazoned on the front side. UFC is Ultimate Fighting Championship which is the most popular mixed martial arts league. Now that the site has been hacked maybe it will have a drawback on their sponsorship of sporting events. Anyway, hacking is really big business now. Even the biggest bank in our country was recently hacked that some depositors have unauthorized withdrawals on their accounts. Fortunately the bank shouldered the losses and the depositors were given back their money. It makes me wonder why hackers are one step ahead of the security measures of websites. There should be a better way to block the potential hackers.

I believe that such kind of incidents could also harm the reputation of the exchange in a really horrible way. I really do not know why and how come these exchanges get hacked if they are the best kind of exchanges. Being a layman myself, I would really question the qualifications and skills of the experts who run these exchanges. Just imagine if such kind of popular exchanges could get hacked, then what will be the situation of some exchanges that are not so much popular and the interesting thing is that the hackers could easily get away with the funds without anyone doing anything about it!

What's quite interesting is the fact that despite being hacked, the value of the exchange's coin (i.e. cryptoc.com token) value has actually increased, so I am not sure why they will officially withdraw sponsorship. They also have NFTs invested in the UFC. Nevertheless, this hack has shocked many people and I am wondering what steps will the crypto.com will take now in order to deal with this issue. I just hope that they upgrade their system and make it hack-free so that they may not face such kind of embarrassing situation ever gain.