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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.

Gate.io And Crypto.com Raise Doubts In The Crypto Community 2

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.

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Harold

CoinCu News

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.