Crypto.com 'Mistakenly' Sends $400M Worth Ether to Wrong Address, Retrieves Later
Crypto.com's careless management of funds leads to the firm erroneously sending around $400 million to Gate.io, another crypto exchange.
Stay updated with breaking news from Crypto Com. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Crypto.com's careless management of funds leads to the firm erroneously sending around $400 million to Gate.io, another crypto exchange.
Crypto.com CEO Kris Marszalek said in a tweet that the company was supposed to send 320,000 cryptos to one of its offline wallets, but accidentally sent it to a "whitelisted" address belonging to the corporate account at Gate.io.
SHIB fans were not too happy with the announcement due to the significant decline in the price of the meme coin over the past year.
Huobi was the latest CEX to share its proof of reserves via the Work Report on Asset Transparency released Sunday.
Following the spectacular collapse of FTX and its Democrat super-donor founder Sam Bankman-Fried, other centralized cryptocurrency exchanges are scrambling to shore up their reputation and contain the fallout.