Crypto.com Faces New Scrutiny as ZachXBT Challenges CEO’s Leak Claims

Crypto.com is once again under the microscope after blockchain investigator ZachXBT accused CEO Kris Marszalek of minimizing the scope of a 2023 data breach.

Marszalek insisted on Sunday that the incident, first reported by Bloomberg, had been contained within hours, with no user funds lost and only a “limited” amount of partial personal data affected.

He argued that regulators, including the Nationwide Multistate Licensing System & Registry (NMLS), were fully informed and dismissed suggestions of underreporting as “misinformation.”

ZachXBT, however, disputed this version, claiming the leak exposed far more than partial data. According to him, wallet contents, ID documents, emails, and phone numbers were among the compromised details. He also challenged Marszalek to provide a public disclosure link if such reporting had been properly filed.

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The controversy escalated when Bloomberg cited a hacker from the group Scattered Spider, who claimed to have gained access by socially engineering a Crypto.com employee. Following ZachXBT’s posts, Marszalek blocked him on X, as speculation mounted about an even larger undisclosed breach. The sleuth suggested that stolen funds could be tied to the leak but withheld specifics for now.

With questions lingering over both the extent of the breach and the transparency of the exchange’s reporting, Crypto.com faces renewed doubts about its security practices.

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