Crypto.com Offers Special NFT for Chinese New Year

Crypto.com has debuted a new non-fungible token (NFT) for the Chinese Year of the Tiger, according to a report Sunday (Jan. 30).

The NFT will be available for those who gift $500 or more, according to a company tweet.

 

A market assessment said the number of crypto users had hit 221 million as of June last year, doubling from 100 million to 200 million within four months before that.

The driver was the adoption of altcoins, including meme coins like dogecoin and Shiba Inu.

There have also been other things like the metaverse that could drive interest, with growth able to surge because of that.

Crypto.com had been active in brand recognition, with a marketing drive associated with U.S. women’s pro soccer. The company wants to become a top 20 consumer brand within the next few years.

The timing comes along with more regulatory scrutiny, with news showing that the U.K. had banned two of the company’s ads.

Crypto.com has also recently said that cyberthieves had breached its security systems, taking over $30 million in bitcoin and Ethereum. In a blog post earlier this month, the exchange said hackers had taken funds from 483 customer accounts, bypassing the authentication system.

The customers have been reimbursed for lost funds.

“Crypto.com promptly suspended withdrawals for all tokens to initiate an investigation and worked around the clock to address the issue,” the company wrote. “No customers experienced a loss of funds. In the majority of cases, we prevented the unauthorized withdrawal, and in all other cases customers were fully reimbursed.”

Read more: Crypto.com says Hackers Stole More Than $30M in Bitcoin and Ethereum

According to the blog, the company risk monitoring systems found unauthorized activity on several user accounts where the transactions were approved without the user’s factor authentication. This made it, so there was a response from multiple teams to look into the impact.

Because of the breach, Crypto.com said it was debuting a Worldwide Account Protection Program to offer more protection.

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