Crypto.com Denies Covering Up 2023 Data Breach later than Hacker Claims
Allegations of a Hidden Hack
Investor Takeaway
Crypto.comâs Response: Incident Was Limited
A Crypto.com spokesperson confirmed that the company had filed a âNotice of Data Security Incidentâ with the U.S.-based Nationwide Multistate Licensing System, in addition to âreports with the relevant jurisdictional regulators.â The platform acknowledged that a phishing campaign had targeted an employee in 2023, exposing limited personally identifiable information (PII) for âa very small number of individuals.â
The company added that the incident was contained within hours and that no customer funds were accessed or at risk. However, it remains unclear whether users directly affected by the breach were ever individually notified, or whether regulatory filings were made public. The lack of clarity on disclosure practices has left open questions about transparency.
CEO Rejects âMisinformationâ Claims
Crypto.com CEO Kris Marszalek addressed the issue directly on X, dismissing the allegations as âmisinformation spreading from uninformed sources.â He reiterated that the company complied with reporting requirements in the United States and in other jurisdictions, insisting that any suggestion of concealment was âcompletely unfounded.â
Investor Takeaway
Broader Context: platform Security Under the Microscope
The allegations surfaced during a period of heightened sensitivity to cybersecurity failures in crypto. The Coinbase customer data exploit earlier this year drew sharp criticism and regulatory attention, setting a precedent for demanding greater transparency. Analysts note that user data is increasingly viewn as just as sensitive as customer funds, with breaches eroding confidence in centralized platforms even if wallets remain untouched.
Crypto.comâs situation also intersects with broader political and corporate developments. Earlier this month, the platform signed an agreement with Trump Media & Technology Group, the parent of former U.S. President Donald Trumpâs reality Social platform, to establish a Cronos (CRO) treasury. The partnership underscored the platformâs effort to deepen ties with U.S. institutions and political networks, raising the stakes for how its and the public.
