# Crypto.com Says Report of Undisclosed User Data Leak 'Unfounded'

In a move that has sparked widespread concern within the cryptocurrency community, Crypto.com CEO Kris Marszalek has vehemently denied allegations that the exchange kept a 2023 data leak of user details a secret from authorities.

### A Shaded Past Revealed

According to Bloomberg, which broke the news earlier this week, a member of the hacking group Scattered Spider, Noah Urban, claimed that his group had phished their way into gaining access to a Crypto.com employee's account sometime before early 2023. This exposure resulted in the personal information of some users being compromised.

### Misinformation Spread Quickly

Blockchain investigator ZachXBT then chimed in on X, stating that Crypto.com had "covered up a breach that impacted the personal information of your users," adding that Crypto.com had been "breached several times." The report sparked heated debate among crypto pundits, who felt that the exchange should have been more transparent amid heightened anxiety over user data leaks.

However, a Crypto.com spokesperson has vehemently disputed these claims. According to the spokesperson, the company made a “Notice of Data Security incident filing” in the US-based Nationwide Multistate Licensing System and in "additional reports with the relevant jurisdictional regulators."

### A Contained Incident

The spokesperson explained that the company detected a phishing campaign that targeted one of its employees in 2023. The incident, which included exposure of limited PII (Personally Identifiable Information) data affecting a very small number of individuals, was contained within hours of detection. Importantly, no customer funds were accessed or ever at risk.

### Transparency and Accountability

It's unclear if Crypto.com had notified those affected by the breach or if its filings of the incident with regulators were made publicly available. When asked for further clarification, Crypto.com did not respond promptly.

### CEO Speaks Out

In a statement posted on X, Marszalek directly addressed the allegations. "Any suggestion that we did not report or disclose a security incident is completely unfounded," he said, adding that the company reported the breach in the US and with "relevant jurisdictional regulators."

Earlier this month, Crypto.com finalized an agreement with Trump Media & Technology Group to establish a Cronos (CRO) treasury. This deal marked a significant development in the ties between the crypto industry and the Trump administration.

### The Future of Crypto

As the cryptocurrency market continues to evolve at breakneck speeds, transparency and accountability will remain paramount for exchanges like Crypto.com. With high-profile hacks and data breaches drawing increasing attention from regulators and users alike, it is essential that companies prioritize open communication and swift action in response to such incidents.

The incident serves as a stark reminder of the importance of robust security measures and timely disclosure in maintaining public trust within the crypto ecosystem.