Crypto.com CEO admits stealing money from 400 users

Chris Marszalek, CEO of Singapore-based cryptocurrency exchange Crypto.com, confirmed on Bloomberg TV on Wednesday that $400 was compromised earlier this week after multiple layers of corporate security were compromised.

On Monday, Crypto.com suspended the removal of the platform after users declared it "illegal". Then the user is prompted to re-login to the account and run the two confirmations again.

After spotting the breach, Marszalek said the company immediately stopped firing, fixed the issue, and was back online "in about 13 to 14 hours," Marszalek said. He added the same day: "All relevant funds have been refunded and no consumer funds have been lost."

According to phone records, Marszalek did not report the stolen money on Wednesday, but approximately $15 million (4,600 ETH) was stolen during the protest, which was laundered by Tornado Money. He said Crypto.com would release the previous announcement with the final amount in a few days.

"Depending on the size of the company, image is not important and consumers are not risk averse," Marszalek added.