Crypto Opinions & News Crypto.com accidentally sends 320k ETH to Gate.io, recovers funds days after

[enaph]

Content source

https://cointelegraph.com/news/crypto-com-accidentally-sends-320k-eth-to-gate-io-recovers-funds-days-after

The fall of FTX highlighted the importance of proof of reserves in averting risks and improving investor confidence, urging leading crypto exchanges to publicly list down their cold and hot wallet addresses. When trying to confirm the availability of funds on Crypto.com, cold store information revealed a suspicious transfer of 320,000 Ether to a wallet address linked to Gate.io on Oct. 21, 2022.
Community member jconorgrogan raised concerns about the transfer of 320,000 ETH from Crypto.com’s cold wallet to Gate.io, considering that the former claims that 100% of user-owned cryptocurrencies are held offline in cold storage in partnership with hardware wallet provider Ledger.

Crypto.com accidentally sends 320k ETH to Gate.io, recovers funds days after

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.

cointelegraph.com

 

[Jack]

Who can believe that this is a mistake... Crypto.com had a good reputation but after this, I would not use it. If you have any money or crypto there you should move it.

 

[upnorth]

Not the first time they been in the news headlight.

Crypto.com Acknowledges 'Unauthorized Activity' on Servers

Crypto.com, a Singapore-based cryptocurrency exchange, has denied reports that the firm lost nearly $15m in Ethereum in a possible network intrusion over the weekend. According to blockchain biz PeckShield, Crypto.com lost about $14.3m or 4,600 ETH, based on its analysis of public blockchain...

malwaretips.com

Crypto News - Crypto Firm Accidentally Gave $10.5M to Sisters, Now Wants Their $1.35M House

After a Crypto.com employee entered the wrong account number and mistakenly sent AU$10.5 million to an Australian woman who had requested an AU$100 refund, a court document shows it took seven months for the cryptocurrency exchange platform to discover its error. By that point, the transfer...

malwaretips.com

 

[Paul.R]

Take your coins out of exchanges, move them on cold wallets...also as a personal perspectiv I asume BTC will be on 10k $ or under (around 7-8k $).

Time will tell...

 

[Jack]

Take your coins out of exchanges, move them on cold wallets...also as a personal perspectiv I asume BTC will be on 10k $ or under (around 7-8k $).

Time will tell...

Yes, I would suggest Trust Wallet... be careful not to lose your seed phrase.

also as a personal perspectiv I asume BTC will be on 10k $ or under (around 7-8k $).

Yes, another drop will most likely happen, however, we may see a relief rally first, then the drop.

 

[LeonardSlaterd]

I agree that it's a good idea to take your coins out of exchanges and put them in cold wallets. I'm not sure I agree with your BTC price prediction, though.

 

[Paul.R]

I agree that it's a good idea to take your coins out of exchanges and put them in cold wallets. I'm not sure I agree with your BTC price prediction, though.

1. FED money printing and now they take them out off the market.

2. Antpool and FoundryUSA have created 512 of the last 1000 Bitcoin blocks, which means that they control more than 51% of the network also Barry Silbert and Jihan Wu are the owners of these businesses.

3. Almost all demand for bitcoin appears to have disappeared, and volume has fallen to its lowest level in years.

4. We will see a pump then a final rug pull.

Can't wait to see the show after that.

Take your coin off the Exchanges.

/sorry for bad english

 

[DaxKaiser]

Crypto.com accidentally sending that huge amount of ETH to Gate.io is wild. It shows how important it is for crypto exchanges to have tight security measures in place. It's crazy how fast the crypto industry changes, with new projects and coins constantly popping up. It can be hard to know what's legit and what's not.