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I have been investing in Crypto.com , now known as Cronos, since March this year.

I see it has been falling in the last 24 hours as many are panicking it could be one of the next exchanges in trouble.

I have just tried to deposit some money onto my crypto.com account and it has left my bank but not reached my account and this was over half an hour ago now, it usually reaches my account in a few minutes.

Is there currently a problem with deposits??

What does everyone think about crypto.com is it in trouble or should be ok?

I don't know how true is this but there is a transaction of funds between crypto.com and gate.io, you can go on Twitter if you want to read more about this, it looks suspicious..

Though Crypto.com team have come out in the open to defend themselves but I am not buying it.

It looks like almost all centralised exchanges are corrupt one way or the other.

I've been hearing rumors regarding Crypto.com as well. These rumors, starting right after the FTX incident, are quite concerning and suspicious. From what I've read (and I'm also quoting the article below), Crypto.com is holding 20% of their assets in Shiba Inu, which is more than their Ethereum reserves, in a meme coin. My other guess is that someone or another major exchange is spreading rumors on purpose in an attempt to hurt Crypto.com and the market in general.

One thing is certain, though: trust in cryptocurrencies will be dented if another exchange goes down.

https://www.euro2day.gr/investments/crypto/article/2161051/ypoptes-kinhseis-apo-to-antallakthrio-cryptocom.html Article in Greek but could be translated into English.

I read that this transaction was made after an audit of crypto.com to help gate.io. So it's not crypto.com that has the problem. Because after gate.io was audited, they returned the ETH amount back. True in my opinion crypto.com also has a problem - it is 20% of funds invested in shiba inu. So the owners of this exchange are even bigger gamblers than their users.

It has been a hour now since sent money from my bank to crypto.com and have still not received funds.

I have however been able to send most of crypto I had on crypto.com to my ledger so at least most of it is off their exchange now.

Not looking good, does make me less confident now  :-\

I don't think so. Kris, the CEO of crypto.com came out on Twitter saying the deposit that was raising so much dust was done way back in March and to their whitelisted wallets. I think all this is fudded to manipulate the market and worsen the bear sentiments

That's the best step in my opinion right now to avoid you losing all your assets or not being able to withdraw them because it turns out that this exchange is really in trouble, the CEO of cryptodotcom has explained there is no change in the withdrawal rules or there are no withdrawal restrictions https://bitcoinist. com/crypto-com-ceo-refutes-rumors-of-re/
but no one knows for sure what really happened, so your steps are right by pulling it

I've been hearing lot's of warnings from reliable sources that more exchanges are going down as they are insolvent and i should withdraw everything imminently. I only have few hundreds left in some places for just in case i need to short something. But i agree with you, this would be a serious blow and it would mean more bear run and that we would have to wait for Bull run quite a while as trust has to be established again.

That's what everyone is going to do when we saw some bad news about the exchange where we have left our funds. As those speculation or news have said about them depositing to Gate and then asking for them to send it back.
That has made the big news about them and I'm starting to feel that this is just another way of sending the market down. We're back in the days where every single news is affecting the market again unlike the last few years when it's not.

I trust that they have problems and i wouldn't send anything there right now but in all fairness, last time i deposited in crypto.com ages ago it took way more then 1 hour for me even with cryptos. I can imagine that bank deposits in weekends will be even slower to process.

i think, it is more on because it falls on weekend, and if it is via bank deposit, it may take time. though should read announcements if they are having trouble with deposits. what i knew at the moment, is the deposit mistake of crypto.com to gate.io of about 320k ETH. however, they already got it back. try asking their support what's going on, they may have direct answer to you.

Even if there is nothing concrete but only some rumors i also believe that crypto.com has some problems, in the last week the value of cronos has halved if there are no problems with crypto.com then there was no reason for such a steep descent

At the moment, all exchange platforms should be viewed as troublesome. Because ftx has seriously damaged the cryptocurrency market and I don't think this bad news will stop. When I look at the previous bear seasons, I think this season will be more wearisome. Because Cz has declared a war on all exchange platforms that can rival him with money power. Most importantly, I now think that this situation is collusion. Because someone is eyeing people's money by showing that they are bankrupt and putting the market in a state of panic.

Not only crypto.com is having rumors but even houbi and gate are having some false rumors after the FTX incident happened. I don't use crypto.com but I use houbi and depositing and withdrawing on houbi is fine. According to the developments that I read, crypto.com is having a non-transparent problem when transferring ETH to Gate.

Earlier on twitter CZ also warned any exchange that transfers funds before or after, after releasing proof of reserve, that the exchange is having problems. If you have funds left on any exchange then it is best to withdraw them all to your non-custodial wallet, bad things can happen at any time.

The early you prepare the better, rumors are quiet true so if you don’t want to lose your money better to transfer it now on your hard wallet while you still can. There’s a lot of issues with exchanges right now, I can say that its not safe to hold with them anymore. This is not a FUD but a precautionary measure to protect your asset from any possibilities of getting hacked or lose the control over that crypto.

I hope this is only a temporary issue and not an early sign of bankruptcy Crypto.com, if this happens then the bear market will get deeper and longer, to anticipate, you can move your assets to a safe place.

The situation with FTX negatively affected the market, all major assets are red.I decided to withdraw all my savings from the exchanges to wallets that are only under my control until better times.It is better to wait for changes with the means that only I can control and not the exchange or another service.

It seems the contagion started if Crypto.com will follow FTX Exchange.
For me, there are some funds that are locked to Crypto.com, because of their high APY, but your funds are locked for 3 months, it's just sad because I just re-invested only a few days after these issues with centralized exchange happened.

have you tried to contact cs contact? because right now Crypto.com is in trouble, you can check the information on twitter, and for now it's better not to use Crypto.com first,
 until they fix the problem, I don't know why they sent so much wrong etherium to the wrong wallet unknown.

Really hard to speculate at this point as the market, market is on a shambles right now, everyone is very fearful, speculating as who is going to be next.

There's even a tweet about Binance halting withdrawals and for sure it has cause panic again in the market.

So by now, hard to give financial advise mate, but the only one that can answer to your question is crypto.com, maybe they are slowing down the withdrawals to not cause panic in a very volatile market that we are in in the last week.

CZ made the investors panic when he tweeted about it again. But he is right about it since crypto sends $400M worth of users' ETH to gate.io so it's definitely worth panicking about. -51.08% this week so the saga of plummeting tokens continues.

I used to own CRO, I'm glad I didn't hold since. There are similarities between FTX and Crypto.com, particularly in thier marketing and buying arena name rights and celebrities promoting them.

Crypto.com is in real trouble here. Similarly AAX exchange announced that they will stop all operation of buying, selling and withdraw for two week and especially Blockfi stopp all withdrawals which is very bad for Crypto. I took all my assets out of BlockFi a couple months ago. Glad I did. I've been using their credit card that earns crypto and it just got shut down. Not good.

Crypto.com CEO claims that the transfer of $400 million in ETH to the wallet was a careless operation, is it really careless?
This news caused a lot of FUD and speculation, and the trust in cryptocurrencies will be affected to a certain extent. The crypto market is really hard to speculate at this time, no one knows exactly what will happen, and more information is needed before making a judgment.

You should not deposit on Crypto.com until they fix the problem between them and Gate.io. We do not know exactly what the problem is but the rumor is they sent many ETH to Gate.io and they claimed that it is the wrong address and they are trying to investigate and will add a new feature that will prevent the same thing happen in the future.

But if you already sent or transferred the funds into your Crypto.com account but was not fixed until now, you can only wait until their team reaches you or you can ask them by sending an email to them.

Oh gosh, I wish all I read was not true and it was all just an attack as continuation to the FTX issue. I am also invested in Cronos and I want to see it grow just like how Binance did it. That's my big expectation from them. And since they can afford expensive advertisements in the sports industry, they will not go bankrupt in a blink.
I don't know any details about what the issue is, but I will be checking it out. If FUD comes out, the value of it could go lower and our investments turning to dust.

My deposit finally went through an hour ago and I decided to buy the dip at 6 cents.

All we as investors can do is wait and hopefully it is not as bad as it sounds, I do think a lot of it is FUD.

Here is a brief AMA summary with the CEO of Crypto.com: https://www.livemint.com/market/cryptocurrency/cryptocom-ceo-says-withdrawals-working-exchange-not-in-trouble-11668413622484.html
He claims that there is nothing to worry about, but we know how much such assurances mean. If at the present time the troubles of another major exchange were revealed, it would be a huge blow to the entire crypto world. Remember that exchanges should not be used to store funds on them that we are not currently trading!

I was a little afraid about it but something tells us that the rumors might be true and crypto.com is in big trouble.
They should be transparent enough to their clients and for them to be aware of what they plan to resolve the issue. Otherwise, there silent actions and slow response could make people say they are next -scam exchange.

For now, there is no conclusion being made but something there is really not good to happen in this exchange. Deposit must behold and stop using this platform until everything becomes clear and safe to go.

Yep, ceo of rumored exchange says that their operation is running just fine. Where else have we heard that? Oh yeah, every failed exchange ceo ever.
I mean what else he would say? Anything even hinting towards that they have insolvency issues would start a panic bank run, and enough people withdrawing at the same time they would have to shut down the withdrawals (probably because of some made up reason of server upgrades). And that would be their end.

Only thing any sane CEO would do at this face is either to be fully transparent about their situation with ftx, and release fully transparent data about their reserves give good reasons for every meaningful transactions they have made. OR just to lie and hope that people won't panic while they try to solve their issues.

With this news, the value of Cro has dropped by more than 25% today. As I speculate, cryptodotcom and gate are clearly supporting each other to create fake proof of their asset holdings. Although it's not too serious at the moment but I think to be safe you should withdraw all your assets on crypto.com and consider cutting loss Cro. It's better to lose a little and not let things get as bad as FTX. I really don't trust crypto.com and Gate.io in this situation.

Crypto.com price is rising today so hopefully this is the start of it recovering

He was liar. The problem is crypto.com was sending it to the gate whitelisted address but the gate was sending it back with less amounts of ethereum received by crypto.com. There are so many bad stories that have not yet been revealed to the public. People become even crisis with CEX since CZ was issuing awareness about cex can steal your money anytime when it got fucked like FTX. The greedy parties in the crypto has been slowly destroying crypto.

that's very sad that so many people speculated that if another bad thing will be come very soon other than FTX. maybe the collapse for another popular exchange site like kucoin maybe

A lot of anomalies are happening to the crypto.com exchange that is sponsoring the world cup next week, which I know of:
1. Crypto.com has a dangerous reserve of assets, funny that an exchange as big as Crypto.com keeps more $SHIB than $ETH in its wallet. they are brave enough to put Resave from user in $SHIB even more than $ETH.
https://twitter.com/CryptoOMG88/status/1591232162531266562?s=20&t=5vHQfSvYS5SCUTkup3_dfA

2. in the last 2 weeks Crypto.com sent 320K ETH to Gate.io and then Gate.io sent back 280K $ETH.
Kris said what happened was the wrong transfer. this is a very very strange thing, big exchange crypto.com made a transfer error.
https://twitter.com/CryptoOMG88/status/1591629547111608320?s=20&t=5vHQfSvYS5SCUTkup3_dfA

3. I think CZ was insinuating what happened to crypto.com via his thread on Twitter.
https://twitter.com/cz_binance/status/1591690261029130240?s=20&t=ewlTiJgFK2GLUW0Ewx2XSg

a lot of anomalies have happened to the Crypto.com exchange in the past few weeks. I recommend being careful if you have assets on the exchange.

I've also seen some "influencers" saying to stay out of crypto.com as early as now as they have an intel about the solid proofs about crypto.com anomaly. I can't verify it myself knowing that I don't have the power to ask them about these proofs. Though it would be much safer to avoid them for now given that there are standing proofs about their anomaly and crypto.com is on hotseat right now. I'm pretty sure there are people who will be investigating them and they would be lucky if there's nothing to find out about them. They can easily go downfall if someone find out or leak their wrong doings just like what happened to FTX.

There is a lot of warnings going on at twitter telling people to withdraw funds from the platform right now. If you can do this, just withdraw everything. It's better be safe than sorry. If it is just a false alarm you will be able to deposit again later and continue using their services anyway.

Personally, I deposited crypto 2 days ago and cashout in fiat yesterday with success. So far they are working normal for me, although unfortunatelly I can't cashout all my funds because they are locked on the earnings' program for almost 2 months yet. :-\

Right, on cases like this it's way more reasonable to not to keep anything in the exchange crypto.com (Or huobi which is prpbably another one), because the upside of keeping money there isn't worth the downside where you could lose EVERYTHING. So if newbies get scared and for some reasons doesn't trust exchanges anymore, which is a possibility.

Then they have 2 options, either cash out or move your crypto to self custodial wallet. And many of them aren't tech-savvy enough to trust themselves using their own wallets, so those will be cashing out. And i think we might see that happening soon.

Aye man come on, lets not punch another big bear along the way. The market is already in the shock though none of the true HODLER care about it but for time being let us give it rest. The crypto isn't doing well and that's what affecting various platform. Many of them also halting the withdrawals and some of them are limiting the same so that they can stabilise the platforms finances. These are days with heavy burdens on trader and exchangers both. FOMO people must be going nuts these days and selling out everything they could. But that creates mess and worsens the situations. Just check if there are any conditions or rules that have been updated with that exchanger in any way?

True, it is better to move all your money out while you can and later find out that it was just a fake news, than to leave your money there believing it is a fake information to later find out the reality of it. I have seen the news about crypto.com, and what I can say about the issue is that this period entirely is a time to be careful and treat any news labelled as rumor to have some traces of truth to them. Secure your investment first.

Thank you. I am monitoring it now and waiting for an exit price. Losses are part of investing, but I don't want to get rekt to zero.
It's still in the recovery phase and there's a chance I could go back to my ROI price. Maybe the issue about them also helped them to be on the trend and be hyped in the process.
It actually made me doubt if I should really sell or not.
Hopefully. My high expectations are reduced but I would still like Crypto.com to clear this out so that CRO could go back up.

Speaking of Crypto.com problems, some time ago I read an article about a woman who instead of returning $100 got a transfer of $10 million from the exchange. Source: https://cryptomaton.medium.com/crypto-com-sues-user-after-refunding-10-million-instead-of-100-9e1f61220e3c
What would you do if you got this amount by mistake? Money back or new life? :)

According to the CEO of Crypto.com, the exchange isn't in trouble.  It is that the mistake of transferring $400m to gate.io take a toll on their reputation.  The CEO made it clear that Crypto.com has a 1:1 fund reserve.  Since they don't do any irresponsible lending and investments practice, they said the they also don't run hedge fund[1] so the fund of their customer is intact. 

---

[1] https://www.cnbc.com/2022/11/14/cryptocom-ceo-says-will-prove-naysayers-wrong-amid-ftx-contagion-fears.html

You would need to launder that money, and that's honestly not a life i want to have.
If you started buying a house etc, officials would be very interested where you got that money and if you payed tax for it. You coun't deposit it in any bank as they need to know where you got that much money. I mean there are ways to do it but it involves too much criminal elements for my taste. I rather would sleep in peace knowing that no one is after me.

Sam from FTX was saying lots of things right before they froze customer funds as well.  It's long been the thought of the community that these exchanges are selling more BTC than they have and the only way to know for sure is for everyone to withdraw their BTC and watch who falls.  Crypto.com has been doing some shady things moving funds around lately and where there's smoke there's fire.  It wouldn't surprise me in the least if they're one of the zombie exchanges right now.  CZ stated there were 4 or 5 of them out there.  I think it's likely that most of the exchanges that aren't heavily regulated are actually insolvent.  Withdraw your funds!

With that money, it wouldn't be easy for him to use it because he would have been monitored by regulators or even the police so if he used even a little money, they would ask him for the details.

We can return the money to the party concerned and explain the situation. I'm sure they will be able to accept that it was their own fault. And if we do not use the money, maybe they will reward us for our honesty and think we did the right thing by reporting it to them.

Have you sold them yet? I just checked them and the situation doesn't get any better. But the good news and FUD about crypto.com seems to have calmed down in the last 2 days I haven't heard any more news about it and it seems like everything is still under their control.
In fact, when investing it is very difficult to give a stop loss order but sometimes we need to do it or else there will be a case of losing everything.
I also put cro on my watchlist because I thought it had the same potential as FTX but after the death of FTX I removed it and the native tokens of other exchanges.

Just an update on my own investment with CRO.

I bought at the bottom a few days ago which has now reduced my average buy to £0.10. 

Things seemed to have cooled down last few days but I am now not as confident in CRO as I was this time last week.

I am hoping it can reach £0.08 in the coming weeks where I plan to trade half of my position for Bitcoin which now feels a lot safer.

Good for you, you happen to get in CRO at almost its bottom, but it looks like the condition of CRO isn't stable yet.  It looks like the FUD is still disturbing its market  So I guess it will take sometime before the market starts to recover.  It needs to get the uncertainty and doubt out of the market.  It is good that the CEO is conducting AMA' and interview to battle the uncertainty and doubt of the people and to prove that CRO has 1:1 fund reserve .  I wonder if the will have an audit to prove that there is nothing to fear when dealing with crypto.com and buying their token CRO.

Like @Reid, he is waiting for Cro to recover before starting to sell, it's really hard to make a decision to sell even a small loss. But with the current situation, I see things are more stable although Cro price has not returned to the old level and the storm has not really ended for Cro.
In my opinion, you and Reid should sell the CRO token and observe them for a while, if everything is completely stable and they continue to grow, both of you can buy it at any time. At this time, stay away from all altcoins, especially the native token of the exchange.

People in their right minds won't touch the money because they know that it wasn't theirs and the amount is also huge but what is only strange is that the woman in the story spend the money on many things and it took months for the exchange to find out this issue, resulting for the public to suspect and think what happen is an inside job.

I think this is also the exchange that mistakenly received 300k eth from another exchange and they call it an accident but the catch is it happened for the second time around. See how fishy these centralized crypto exchanges are? This is why we shouldn't be confident on trusting our money on them.

It could be one of their lie and all those rumors about wrong amount of transfers and refunds. That is where the shady business begins.
The article says the "woman buys a luxurious mansion from a newly found wealth", and "the exchange remained unaware of the issue for 7 months, with this only coming to light during an end-of-year audit." That 2 statements alone are highly questionable.
This woman could've been checked her financial background, and Crypto.com could've detected the wrong transfer right away or at least the same day or the next day after the wrong refund took place. With that huge amount of discrepancy, it's almost impossible to go unnoticed for 7 long months.
Now, it could be that this exchange are in major panic after the FTX collapse, especially when competitors are spreading rumors.

First, if you bought Cronos this month of March, it can be said that there was nothing wrong with what you did. Whatever you heard is just FUD, because as far as I know, cryptocom just made a mistake by sending a large amount to gateio, and I also don't think it's a basis to say that its price value will continue to drop immediately.

Besides that, this is a good opportunity to buy Cronos now and hold it for a while or it depends on you when you want to hold it. Cronos is not the only one that has experienced such transactions, even other well-known exchanges have also had this error.

It was a dramatic issue but never it gets sympathy from the people and yes, that was absolutely a big lie.
Nobody will ever to listen in a very questionable action the team made. People had already learned from their experience because scam exchanges will never be legit, their true colors will sone to come out. They will just create a dramatic issue and then exit, and be gone forever. That is why it was risky to put and hold coins in an exchange wallet as they are prone to that issue since before.

Hopefully with Crypto.com being a sponsor of the world cup which starts this weekend the price will pump a bit.

I will not sell my entire position as I do feel long term it can reach $1 however I am just not as confident in it as I once was having seen what happened to FTX.

I only started investing in crypto 9 months ago so this is my first bear market so is new to me and I am yet to experience a bull market but am happy to wait till 2024/2025 for the next bull run.

Unfortunate that crypto is so attractive to so many scammers, I feel like there is a  whole bunch of them all got together to disturb what we have.

We have something so good here, and I feel like it is the best way to overcome all the problems we face financially, something that we can rebel against the governments which destroy our wealth, and give more of it to already wealthy people, crypto is a perfect way to fight against that. But instead, we turn into a scam pool where people keep scamming each other and unfortunately that causes both a lot of drop in price, but also there are a lot of trust lost in crypto because of all of this as well.

I have never traded on crypto.com. But what I do know is that crypto.com is a good marketplace and has good credibility. Maybe crypto.com did some updates so that your money deposit could not be processed. It would be better for you to try contacting crypto.com so that your problem can be resolved.