After the FTX affair, it’s Crypto.com’s turn to be in the spotlight!

Over the past few weeks we have heard a lot about the FTX and Binance issue. In fact, it has literally made the price of major cryptocurrencies plummet.Such as Bitcoin, Ethereum and many other cryptocurrencies. Since then, FTX has gone bankrupt and its platform has been hacked. But it doesn’t stop there, in fact, all the major cryptocurrency players are now keeping an eye on the various transactions and news occurring in the cryptocurrency market.

Here’s how Crypto.com is now in the spotlight. We will see the details of this new story later in this blog post.

What is the Crypto.com platform accused of?

The Crypto.com platform has come under fire for having recently transferred more than 320,000 Ethereum (ETH).or about $400 million to another platform. In another era than the one we have just lived through, this transaction would probably not have had the same impact on the cryptocurrency sphere, and Crypto.com’s CEO had to quickly justify himself:

“It was supposed to be a move to a new cold storage address, but it was sent to a whitelisted external exchange address. We worked with the Gate team and the funds were returned to our cold storage.”

“We have since strengthened our processes and systems to better manage these internal transfers.”

The ETH transfers that have generated so much FUD on Twitter today were made more than three weeks ago, on Oct. 21 to https://t.co/pFc4Pz9nFRs whitelisted corporate account at https://t.co/Mr9GCkL2gV.

– Kris | Crypto.com (@kris) November 13, 2022

While the CEO assures that this transfer was a mistake, Crypto.com is currently on trial for having already committed a serious oversight, with a multi-million dollar transfer to a user’s wallet.