The Account Protection Programme (APP) Rolls Out in Select Markets

APP will soon be available in more markets

Mar 03, 2022

We are pleased to announce that the Account Protection Programme (APP) is available for Crypto.com App and Exchange users in select markets. After the APP takes effect in each respective market, the relevant users will be eligible to receive APP relief for unauthorised transactions. The APP will soon be rolled out in more markets. 

What is the APP?

The APP protects users in cases where a third party gains unauthorised access to their account and withdraws funds. For users who meet the Terms and Conditions and eligibility criteria (stated in the FAQs), the programme will restore up to USD 250,000. The events covered by the APP include: 

  • Unauthorised withdrawals of digital assets from users’ Crypto Wallet 
  • Unauthorised withdrawals of fiat currencies from users’ Fiat Wallet

Requirements

To be eligible to make a claim, users must have completed the actions below: 

  • Enabled Multi-Factor Authentication (MFA)* for all transaction types where it is currently available** (Guide for App, Exchange)
  • Set up an Anti-Phishing Code** (APC) (Guide for App, Exchange
  • Enabled 24-Hour Withdrawal Lock for newly whitelisted addresses
  • Users with jailbroken devices will not be eligible

Please refer to the policy guide for full details. 

*MFA includes 2-Factor Authentication (2FA).

**MFA and an 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 30 days of the event to submit 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 a copy of the report to us
  • Complete a security questionnaire

We will use the information submitted to us to conduct a forensic investigation. 

The safety of your funds is our highest priority. Please refer to the FAQs for further details about the APP. 

Tag

Account Protection Programme

App

cryptocurrencies

security

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