The breach, uncovered in a new Bloomberg Businessweek report, was linked to a teenage member of the notorious hacking collective Scattered Spider.

The hacker, identified as Noah Urban, specialized in phishing attacks aimed at employees of major telecom, tech, and crypto firms. Working with an accomplice known as “Jack,” Urban reportedly managed to compromise a Crypto.com staff account, gaining access to sensitive data. While the exchange insists no customer funds were touched and only a “small number” of personal records were exposed, critics say the lack of transparency is troubling.

On-chain investigator ZachXBT slammed Crypto.com on X, pointing out that the exchange has faced multiple security incidents in the past. “They’ve been breached several times,” he wrote, arguing that investors deserve full disclosure.

The attack dates back to before March 2023, when the FBI raided Urban’s home, seizing $4 million in cryptocurrency along with cash and jewelry. He was later arrested in January 2024 and charged with hacks targeting 13 different companies. After pleading guilty, he received a 10-year prison sentence.

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Crypto.com’s silence stands in stark contrast to the fallout suffered by competitors. Coinbase, for example, reportedly lost hundreds of millions when offshore customer service workers were bribed to hand over account access. In both cases, attackers sought insider pathways rather than direct assaults on trading infrastructure.

The revelations land at a critical moment for Crypto.com. Trading activity on the platform recently surpassed Coinbase in monthly volume, and the exchange has begun partnering with Trump Media on a new digital asset treasury venture focused on accumulating CRO, the native token of its Cronos blockchain.

Source: Bloomberg

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