HomeRegulators haven’t contacted Crypto.com following a hack, says CEO

Regulators haven’t contacted Crypto.com following a hack, says CEO

Hassan Maishera

Crypto.com experienced a hack a few days ago, but the company said regulators have not been in touch since.

Crypto.com Chief Executive Officer Kris Marszalek has revealed that regulatory agencies haven’t contacted the company since it experienced a cybersecurity breach earlier this week of about 400 customer accounts.

Marszalek pointed out that Crypto.com is ready to share information on the hack if the relevant regulators get in touch with it. He said;

“Obviously, it’s a great lesson, and we are continuously strengthening our infrastructure. Given the scale of the business, these numbers are not particularly material, and customer funds were not at risk.”

Crypto.com became the latest cryptocurrency exchange to experience a hack. Earlier this week, hundreds of customers on the platform reported that their ETH and other cryptocurrencies were wiped out following a cybersecurity breach.

At the moment, it is still unclear how much was stolen from the affected accounts. However, Crypto.com said it would reveal the true figures and other necessary information once it finished analyzing the situation.

Crypto.com moved its headquarters from Hong Kong to Singapore last year, and the company is currently awaiting license approval from the Monetary Authority of Singapore or MAS.

The Singaporean regulatory agency recently banned public advertising of crypto products. However, Crypto.com’s CEO said the Singaporean government is supportive of cryptocurrencies and the blockchain industry. He said;

“Singapore is very supportive of blockchain technology and the cryptocurrency industry in general. It’s a great place for the industry players, and there’s quite a large number of players there.”

Crypto.com is one of the leading cryptocurrency exchanges that has leaned towards sporting partnerships in recent months. The crypto exchange bought the naming rights to the Los Angeles Staples Center, and it is now known as the Crypto.com Arena.

The exchange has also partnered with entities such as Paris Saint Germain, the Australian Football Association and several others.

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