Data Leak? Crypto.com Fires Back At ‘Unfounded’ Allegations

According to Bloomberg and several other news outlets, Crypto[.]com has pushed back against a report that a 2023 breach exposed user details and was kept from authorities. The story centres on a hacking group known as Scattered Spider and a young suspect who, according to reports, used phishing and social engineering to access an employee account.

Crypto[.]com says the claims that it hid the incident are “unfounded.” Crypto[.]com’s leadership has said the incident was reported to regulators at the time, with CEO Kris Marszalek and company spokespeople stating that the breach affected a “very small number of individuals,” involved limited personally identifiable information, and did not put customer funds at risk. Based on reports, the firm says it notified US regulators and relevant jurisdictional authorities about the matter in 2023. The company called any suggestion of a cover-up misinformation.