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Crypto.com Says Alleged $15M Hack Was Just an 'Incident'
- vmception 5y ago> “As far as I've seen, Crypto.com haven't said that no funds were lost, but that ‘no customer funds were lost.’ This could mean that the funds belonged to the company themselves rather than customers, or that any customer losses will be covered by the business. But that's just me speculating based on what I see on social media.” That's pretty much my take on it too. It is interesting how safe the centralized, incorporated, and custodial exchanges have become, for users. It is also interesting how lucrative they remain for bug bounties. Enjoy the $15mm. Send me a tip on which erc20 token you're going to pump to launder it all. Please launch the new erc20 at a low 5 figure market cap so I can ride it up with your Tornado.cash withdrawals and pumps.
- cwkoss 5y ago"Incident" is not minimization - it is specific jargon in the financial regulation industry for exactly this kind of thing. If your bank had $15M stolen, they would also call it an "Incident". Vice loves writing incendiary articles about things they don't understand. Lorenzo Franceschi-Bicchierai's name looks familar, pretty sure his writing has peeved me previously in the same way.
- iancarroll 5y agoI’m not sure Crypto.com is too worried about financial regulation or norms in their public statements. There is a widely used distinction between an “incident” and “breach” in the security community, and their public statements on this have been strange at best; certainly they are not reassuring.