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Jan. 18, 2022, 8:55 p.m. EST

Crypto.com halts withdrawals after suspicious activity; CEO says no user funds lost

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Paul Vigna

The online platform Crypto.com suspended customer withdrawals for about 14 hours on Monday, after reports of unauthorized activity in the accounts of some users, the company said.

No user funds were lost, Chief Executive Kris Marszalek said on Twitter late on Monday. While he didn’t offer details of the incident, he said the company will offer a full report after it completes an investigation.

Late on Sunday night, the Singapore-based platform said via Twitter that it had a “small number of users reporting suspicious activity on their accounts” and that it would in response halt all withdrawals.

Crypto.com has become one of the larger cryptocurrency platforms, currently ranked 10th in spot trading, according to CoinMarketCap, and the company has become far more visible in recent months.

An expanded version of this report appears on WSJ.com.

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