Some users of Crypto.com recently started tweeting about some “suspicious activity” on their accounts, which created a short panic among the crypto traders. Crypto.com is a Singapore-based cryptocurrency trade app and manages ten million users and 3,000 employees.
“Crypto.com” halted withdrawals from its platform for a few hours and tweeted on their profile, “They halted the withdrawals, but all funds were supposedly safe.”
Billy Markus, the creator of Dogecoin (DOGE), spotted a strange transaction pattern on Etherscan, prompting the firm to suspend all transactions until they could determine what was wrong with their platform.
Hacks, rug-pulls, and protocol attacks are all too common in the crypto sector. In 2021, scammers all around the world made a record of $14 billion in cryptocurrencies. Losses from cryptocurrency-related crime increased by 70 per cent between 2020 and 2021, and such scams are still on the rise.
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