Crypto.com has been hacked for millions of dollars in crypto. The crypto exchange announced this in the early hours of Monday after users complained of suspicious activity on their accounts. It is the first centralized exchange to fall victim to a hack for the year 2022 coming out of the year 2021 which was riddled with numerous hacks that saw exchanges and users alike lose billions.

Crypto.com took to Twitter to address thee issue. In response the hack, the crypto exchange had promptly announced that it was restricting withdrawals for all users on the platform while assuring the community that all of their funds were safe.

The tweet noted that only a small number of users had been affected by the hack. However, users of the platform rolled out en masse to say that this was not so. The number of complaints regarding funds being lost by users in the hack had grown continuously on social media. Most had had a significant amount of crypto stolen and called for the exchange to do something about the attack.

The attack is speculated to have occurred after the attackers found a way to bypass the 2FA security measures on the exchange. This has prompted Crypto.com to alert users to reset their 2FA information, as well as having to log back into the platform to regain access to their accounts.

The crypto exchange announced that this update will be rolled out gradually to users. Upon completion, withdrawals will then be enabled and users will be able to send their funds out of the exchange. “We understand this may be an inconvenience, but security comes first,” the exchange said.