We are pleased to announce that the Account Protection Programme (APP) is now available for Crypto.com App and Exchange users in Australia. Unauthorised transactions that take place after 1 February 2022 will be eligible for App relief.
What is APP?
The APP is designed to protect users in cases where a third party gains unauthorised access to their account and withdraws funds. For users who meet the qualifying criteria (link to FAQ), the programme will restore up to USD 250,000. The events covered by the APP include:
- Unauthorised withdrawal of digital assets from users’ Crypto Wallet
- Unauthorised withdrawal of fiat currency from users’ Fiat Wallet
To be eligible to make a claim, users are required to take the actions below:
- Enable Multi-Factor Authentication (MFA)* for all transaction types where it is currently available** (Guide for App, Exchange)
- Set up an Anti-Phishing Code** (Guide for App, Exchange)
- Make sure their device is not jailbroken
*MFA can currently be enabled using 2-Factor Authentication (2FA).
**MFA and APC must be enabled at least 21 days prior to the alleged unauthorised transactions.
Making a claim
In the rare event where an unauthorised transaction takes place, users can contact us via the in-app chat within 60 days of the unauthorised transaction to initiate an APP relief claim. Users will also need to take the following steps:
- File a police report with the local authorities about the incident and submit the report to us
- Complete a security questionnaire
We will use the information submitted to us to conduct a forensic investigation.
Rest assured that the safety of your funds is our highest priority. Please refer to the FAQ for details about the APP.