Crypto.com CEO Responds to Complaints About Login Issues After $31M Hack

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Crypto.com CEO Kris Marszalek has responded to complaints from thousands of users about problems logging back into their accounts after the company was forced to change security settings following a hack last week last.

On Monday, the company admitted that 483 users were affected by unauthorized withdrawals of cryptocurrency from their accounts, costing a total of “4,836.26 ETH, 443.93 BTC and around $66,200 in other cryptocurrency. currencies”. At the time of the attack, that was around $31 million.

Crypto.com said in a statement that it revoked all 2FA tokens from customers and “added additional security hardening measures, which required all customers to re-login and set up their 2FA token to ensure that only authorized activities would take place”.

But thousands of people have since taken to social media to complain about not being able to access their accounts. Hundreds of people tweeted at Crypto.com asking for help, complaining that support channels weren’t working.

When pressed for comment, Crypto.com directed ZDNet to a statement from Marszalek that was posted to Twitter on Friday evening.

“If you can’t get back into our app after access is reset this week, in 95 out of 100 cases, you’re just using the wrong email to log in. We don’t allow duplicate accounts with the same phone number, so you’ll be blocked if you use the wrong email,” Marszalek wrote.

He urged customers to check their inboxes for emails from Crypto.com and said “whoever has it is the one you should use to log into the app.”

“If you can’t find it, or you no longer have access to it, please contact our CS. We will authenticate you again. We help users in these cases one by one, but it takes time considering the breadth of our platform. Our team is also working on a new version of the app that specifically communicates it through UI/UX improvements,” he explained.

“Finally, rest assured that your funds are safe and waiting for you to log back in…with the correct email.”

The statement did little to appease angry customers demanding access to their accounts.

The company initially denied reports that funds were stolen, although PeckShield said around $15 million was washed in a coin-operated cup. On Wednesday, Marszalek was forced to appear on Bloomberg to confirm that around 400 users had been attacked and users’ ability to withdraw funds had been suspended.

Crypto.com has created a program designed to reimburse up to $250,000 to users affected by the hack. The company said the terms and conditions “may vary by market depending on local regulations” and that “Crypto.com will make the final decision on eligibility conditions and claims approval.”

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