Crypto.com: A Hack Kept Secret for Two Years

The Crypto.com exchange finds itself at the heart of a new cybersecurity case. According to Bloomberg, an attack carried out by a teenager and his accomplice allegedly allowed the disclosure of users’ personal data. An episode all the more worrying as the platform reportedly chose to keep this breach silent.

A Targeted Attack Kept Silent

According to a Bloomberg Businessweek report, a teenager affiliated with the cybercriminal group “Scattered Spider”, supported by an accomplice, managed to hack the account of a Crypto.com exchange employee at the beginning of 2023. This intrusion, kept silent, allowed access to the personal data of several clients.

The platform tried to downplay the incident. A spokesperson stated that only “a handful of individuals” were affected and that no funds were stolen. Yet, this lack of official communication raises questions. 

In a sector where user trust relies primarily on transparency, hiding a security breach amounts to weakening one’s own reputation.

The case resurfaced after the arrest of Noah Urban, the young hacker involved, who has since been sentenced to ten years in prison. During a raid, the FBI had already seized several million dollars in cryptocurrencies, as well as jewelry and cash.

This episode highlights the growing sophistication of cyberattacks targeting exchange platforms, which often exploit their employees as entry points.

Crypto.com, an Isolated Case or a Symptom of a Structural Problem?

This episode fits into a broader trend. Coinbase has also recently been hit by a large-scale attack, involving nearly 400 million dollars and exposing sensitive data.

In both cases, the pattern is identical: hackers do not directly attack the systems, but exploit internal teams, often considered the weak link in a security chain nonetheless saturated with protocols and firewalls.

These attacks highlight two essential realities:

• Cybercriminals now favor social engineering and agent corruption rather than direct technical assaults.
• Centralized platforms like Crypto.com or Coinbase remain naturally vulnerable because they concentrate both capital and sensitive data.

The timing further complicates the situation for Crypto.com. In August, the platform surpassed Coinbase in trading volume, confirming its rise. It has also partnered with Trump Media to create a digital asset treasury company. But the bigger the company grows, the more it becomes a prime target for hackers.

The incident, even if contained, must therefore be seen as a serious warning. The lack of transparency around the breach tarnishes the image of an exchange nevertheless on the rise. 

In a context marked by the increase in attacks and heightened regulatory oversight, platforms have only one option: to invest heavily in cybersecurity and play the card of full transparency. 

Because in the crypto market, trust is built slowly, but can collapse in an instant. The smallest unacknowledged breach risks costing much more than the loss of a few data points. 

The disappointing record of the first quarter of 2025, with 1.63 billion dollars stolen, is clear proof. The crypto sector faces a relentless wave of cyberattacks, and only transparency can strengthen both the credibility of exchanges and the resilience of the entire ecosystem.