Crypto.com “Accidently” Sent 280.000 ETH To Gate.io In Cold Storage

Over 280,000 ETH were “inadvertently” transferred from a cold wallet to another exchange, Gate.io, by Crypto.com.

According to the CEO, the move was supposed to be to a new cold storage address, but it was sent to a whitelisted external exchange address. He claimed that Crypto.com had worked with the Gate team and the funds had been returned. He also confirmed that new processes and features had been put in place to prevent this from happening again.

Many questions have been raised in the aftermath of this incident. The Cobo founder questioned whether Gate and Crypto.com were collaborating to forge asset certificates.

However, there are some who believe Gate issued an audit report prior to the transfer.

Following the FTX disaster, the Crypto industry has been seriously impacted, resulting in numerous unexpected events. Since the incident involving Crypto.com and Gate.io was resolved, the community is still optimistic about a bright future when the market recovers from the damage.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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