Crypto Dot Com Collapsing
Crypto.com has repeatedly transferred millions of dollars to the incorrect users.
It sent 320k units of Ethereum token to the Gate.io crypto exchange.
The crypto community speculates that probably the exchanges were assisting each other in forging asset certificates.
Photo: Twitter
The 'market' now realizes many more will unfortunately follow
Get your funds out of Gate. io and Crypto. com ASAP.
— Emperorđź‘‘ (@EmperorBTC) November 13, 2022
No FUD but better be safe.
PLEASE RT and help your friends.
For the second time, Crypto.com, one of the prominent crypto exchanges, has ‘mistakenly’ transferred millions of dollars to the wrong address.
I just withdrew all my funds off https://t.co/hKkLMzo7Sl. I don’t necessarily think anything is wrong with @cryptocom… but if you haven’t learned the importance of self-custody by now then there may be no hope for you.
— Ben Armstrong (@Bitboy_Crypto) November 13, 2022
Not your keys, not your crypto
You start to wonder...who's next? "My bet is on Crypto . com" - This author writes
Because the 'market' now realizes many more will unfortunately follow
— The Gem Miner đź’Ž ⛏ (@GemMinerXBT) November 11, 2022
You start to wonder...who's next?
My bet is on Crypto . com#blockfi $usdt $ftt #ftx $bnb $cro $mco $cel $vgx $trx $usdd https://t.co/4orMj7Z0a4
Remember. Never keep your assets in Centralized Exchanges. May that be Binance, Cryptocom, Kucoin and etc.. It is not your assets if you don’t keep the keys.
If an exchange gets hacked or is run by dishonest people millions of users can lose their crypto in one attack or one act of dishonesty. It has happened many times before. It’s significantly less risky to keep your crypto in a hardware wallet.
— Kim Dotcom (@KimDotcom) November 13, 2022
Speaking to Cointelegraph, Crypto.com spokesperson clarified that the whitelisted address on Gate.io was owned by Crypto.com. Regardless, Marszalek confirmed that Gate.io returned the funds to Crypto.com’s cold storage and reassured the investors that new processes and features were implemented to prevent a reoccurrence.
I am awake what did I miss?
— Satoshi Stacker (@StackerSatoshi) November 13, 2022
Apart from @cryptocom sending 80% of their #eth to another exchange “By accident”
Crypto.com's Preliminary Glimpse of Token Reserves Reveals 20% in Shiba Inu CoinAs large crypto exchanges push to prepare “proof-of-reserves” audits, an initial effort reveals just how much of Crypto.com’s reserves are in the dog-inspired meme token, SHIB.
These are customer deposits @NeerajKA - we securely store 1:1 everything our users buy & hold on the platform.
— Kris | Crypto.com (@kris) November 11, 2022
And indeed, users bought a lot of Shiba & Doge in 2021. You could figure it out by looking at their global marketcap rankings (Doge #9, Shiba #14).
crypto dot com stinks like the alameda bahamas penthouse on a national deodorant shortage
— moon (@MoonOverlord) November 13, 2022
get your funds off that dumpster fire now.