Investigators discovered that 320,000 Ether was sent to Gate.io on October 21, 2022, just two days after Crypto.com made the details of its cold storage information available.

The CEO of Crypto.com, Kris Marszalek, denied any wrongdoing, saying the money was transferred inadvertently and eventually returned to the original storage.

Marszalek responded on Twitter to the incident that Crypto.com “accidentally” deposited 320,000 ETH to Gate.io. He said that Gate.io worked with Armanino on the Proof of Reserves using a snapshot on October 19, two days before Crypto.com transferred 320,000 ETH to its Gate.io account, which happened on October 21 at 2:52 UTC.

However, this is still not without doubt for the entire crypto community.

Even the Binance CEO has voiced this suspicion.

After the collapse of FTX, its consequences have hit the crypto industry currently as the suspicion of investors and users has decreased towards crypto companies.

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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Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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News

Gate.io And Crypto.com Raise Doubts In The Crypto Community

Investigators discovered that 320,000 Ether was sent to Gate.io on October 21, 2022, just two days after Crypto.com made the details of its cold storage information available.

The CEO of Crypto.com, Kris Marszalek, denied any wrongdoing, saying the money was transferred inadvertently and eventually returned to the original storage.

The founder of Gate responded urgently in the community: The time stamp of the proof of deposit is October 19th, which is earlier than the time of https://t.co/l0YBWbThba transfer. “When I saw it, I was very surprised, thinking there was a system problem”. https://t.co/1aQkjCaJjq https://t.co/orX9COTDfr pic.twitter.com/rewMX6X38f

— Wu Blockchain (@WuBlockchain) November 13, 2022

Marszalek responded on Twitter to the incident that Crypto.com “accidentally” deposited 320,000 ETH to Gate.io. He said that Gate.io worked with Armanino on the Proof of Reserves using a snapshot on October 19, two days before Crypto.com transferred 320,000 ETH to its Gate.io account, which happened on October 21 at 2:52 UTC.

(1/2) https://t.co/fMCiAnAueR worked with Armanino on the Proof of Reserves using a snapshot on Oct.19 2022 2 days before https://t.co/PHnRJks7YS’s 320,000 ETH deposit to https://t.co/fMCiAnAueR.

Check the proof belowhttps://t.co/iCCKCb94kL

— Lin Han (@han_gate) November 13, 2022

However, this is still not without doubt for the entire crypto community.

Why did Gate not send back the full amount, and why did https://t.co/pte7OznHLQ have a gate wallet address in their system connected with their cold storage?????

— Leo (@Leo20297219) November 13, 2022

Even the Binance CEO has voiced this suspicion.

https://twitter.com/cz_binance/status/1591690261029130240

After the collapse of FTX, its consequences have hit the crypto industry currently as the suspicion of investors and users has decreased towards crypto companies.

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.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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