Crypto.com continues to add almost 500 new holders daily despite recent hack

Crypto.com continues to add almost 500 new holders daily despite recent hack
5 months ago
2 mins read

Following an extensive advertising effort that led to a significant increase in demand for the Crypto.com Coin (CRO), the Singapore-based platform has grown into one of the top ten largest cryptocurrency exchanges in the world by trading volume.  

The number of new holders of CRO, the native token of Crypto.com, has continued to see a steady rise in the last month, even after the platform was recently hacked on January 17.

Nevertheless, a total of 482 new addresses carrying the digital asset CRO were added daily in the last month, from January 16, when there were 200,466 unique addresses holding the digital asset CRO, to February 14, when there were 214,950 holding Crypto.com Coin there has been a gradual increase, according to CoinMarketCap.com.

CRO total addresses. Source: CoinMarketCap.com.

Crypto.com originally suspended withdrawals when users noticed funds leaving their accounts on January 17, nevertheless as illustrated, the number of CRO holders has continued to rise in the last 30 days, despite the theft of $30 million in assets stolen from 483 users’ crypto wallets.

Crypto.com admits hack

Initially, the issue was first referred to as “an incident,” and the business said that “no client funds were lost.”

Ultimately, customer losses were refunded by the exchange which said that it “prevented unlawful withdrawals” in the vast majority of cases. 

Crypto.com claims to have strengthened its security measures and to have enlisted the help of third-party auditors to further analyze its overall security position. However, the firm did not disclose any specifics on the upgrades that had been made.

Currently, CRO is trading at $0.4789, down 6.90% in the last 24 hours and 1.98% across the previous seven days, with a market cap of $12.1 billion.

CRO 1-month price chart. Source: CoinMarketCap.com.

In the aftermath of the hack, the coin fell as low as $0.3144, and now it has climbed 44% since then and is currently up in price over the last month.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.