The CEO of cryptocurrency exchange Crypto.com, Kris Marszalek, has pushed back against claims that his company tried to cover up a 2023 hacking incident. Posting on X, he stressed that there was no concealment and that the matter was properly reported.
Teenage Hacker Behind the Breach
According to Bloomberg, the exchange was targeted by the notorious group Scattered Spider, which included teenage hacker Noah Urban. The attacker allegedly gained access through a phishing attempt that compromised an employee’s account.
“We Didn’t Try to Hide Anything,” Says Marszalek
Marszalek underlined that the company immediately reported the incident to regulators. Within just a few hours, the situation was under control. The impact on users was minimal, with only a handful affected by the exposure of personal data.
No customer funds were lost or endangered during this attack.
A Mild Case Compared to the 2022 Breach
Marszalek also pointed out that compared to the 2022 hack, when attackers bypassed two-factor authentication and stole significant funds, the 2023 event was far less serious. Back then, the exchange had to temporarily halt withdrawals and significantly strengthen its security protocols.
Conclusion: Crypto.com rejects allegations of a cover-up. The firm says the incident served as yet another driver for tightening user protections and showed that the exchange can handle crises quickly and effectively.
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