Crypto.com accounts had unauthorized withdrawals
The Worldwide Account Protection Program seems to be a way for Crypto.com to limit their exposure, while marketing it as "protection" for the customers.<p>Around $34million stolen, 483 users affected. If the funds were spread evenly, then each user would have lost about $71k. But the funds won't be evenly spread (average). It's likely some users will have lost much more, and some much less.<p>From the announcement, it looks like Crypto.com is making the users whole again;<p>> No customers experienced a loss of funds.<p>This means that (in some cases) Crypto.com was on the hook for much more than $71k / user. The WAPP appears to put a series of conditions on the user, and introduce an upper limit to the amount that Crypto.com will return in the future.<p>> WAPP restores funds up to USD$250,000 for qualified users; terms & conditions apply.<p>>     Enable Multi-Factor Authentication (MFA) on all transaction types where MFA is currently available,<p>>    Set up an anti-phishing code at least 21 days prior to the reported unauthorized transaction,<p>>    Not be using jailbroken devices,<p>>    File a police report and provide a copy of it to Crypto.com; and<p>>    Complete a questionnaire to support a forensic investigation.<p>This looks more like a mechanism to limit Crypto.com's exposure to future events than it does a policy to protect users.