Crypto.com App - Take my money and freeze accounts! (Arbitrage GALA)

[marbet85]

Hi, with few friends we bought last days GALA token on pancake and sold by crypto.com sites. On pancake was a great exchange rate in few hours, like 10x down as normal, we can without problem bought and transfer to crypto and sold. All will be good, but in next days our applications, cards was freeze with our money, collab etc, and after that we received mails of REFUND TO THEY money! But not as was our profit, they want much more in USDC! In twitter you can check this mails etc, and in last days was silent from thier site but they take all money and all which are we got on application without our permission! They said so it was a technical foul.

https://twitter.com/WhaleChart/status/1591187969628856320?s=20&t=YdsUzRJYi4YzcDiWYRznCQ

Anyone have the same problem as we?

[Jawhead999]

Although crypto.com is wrong to not stop GALA trading, but the one who take advantage over crypto.com isn't right too. Your friend must read the whole TOS first, they've wrote it's forbidden to use crypto.com to take advantage over technical problem. Why your friend not do arbitrage on the other swap platform? why your friend prefer to use crypto.com aka centralized exchange? everyone already know centralized exchange is really strict about their rules.

[naira]

There has been so much attention to centralized exchanges lately, it should be a warning to you and your friends to always be careful. Doing Arbitration with crypto.com is actually not very effective either. the aftermath of the FTX case also eroded cyrpto.com for being involved with Alameda Research. Automatically the public's response at that time would obviously be fast enough wherever they kept assets that were involved with Alameda, so most of the options they made were to temporarily withdraw their assets and not try to play games to send or withdraw assets on the relevant exchange.

Based on data from Nansen, there are 5 wallets that we can track, namely Binance, Okx, Crypto.com, KuCoin, and Huobi. Since you have a problem with one of the 5 exchanges then we see that at this point Crypto.com has combined all of its assets pooling around $2,523,132,890 in the asset allocation at the time I wrote: BTC 28.74%, SHIB 20.82%, USDC 15.27 %, ETH 13.50%, USDT4 .91%, and Others 16.77%.

Regardless of your concerns, I suggest you take the time to read this because the exchange is centralized as said theymos:

When you log into an exchange, yield platform, or other site, and it says that you have a balance of "1 BTC" or "1 USD", this does not actually mean that you have 1 BTC or 1 USD. Rather, it means that the company showing you this balance owes you that money. In other words, you've given a loan to the company. Maybe the company will pay you back, but history is littered with defunct companies which accepted deposits and were widely trusted for years, but which ended up not paying back their depositors in the end.

[marbet85]

Although crypto.com is wrong to not stop GALA trading, but the one who take advantage over crypto.com isn't right too. Your friend must read the whole TOS first, they've wrote it's forbidden to use crypto.com to take advantage over technical problem. Why your friend not do arbitrage on the other swap platform? why your friend prefer to use crypto.com aka centralized exchange? everyone already know centralized exchange is really strict about their rules.

In our part of EU the most likely exchanges are CDC, Binance, before without any problems with 3 years. But they want more money as we get profit, they unstake our cards and take all funds, thats really shit from thier side.

[Crypt0Gore]

I'm guessing you have passed KYC verification on crypto dot com? If Yes it's better to give back the money because you can be prosecuted for doing this.

You knew that the Gala token on the BSC chain was very cheap on pancakeswap and you want to make money by outsmarting the system, this is pure cheating.

pNetwork is responsible for the Gala token on BSC chain and they made a good choice by creating a new Gala token and give them out to those that are holding gala before the hack took place.

Many will say that it's their own fault but you won't say the same if you are the owner of pNetwork or Gala project.

[marbet85]

Yes, I have positive verified. I earn of this trade on Gala like 2,2k USD, the want from me like 5k USD. They also grab from my account my USD, 700 and CRO, 10k and take my profit from card, without my permission.

[TastyChillySauce00]

Yes, I have positive verified. I earn of this trade on Gala like 2,2k USD, the want from me like 5k USD. They also grab from my account my USD, 700 and CRO, 10k and take my profit from card, without my permission.

Then you can do nothing about that as all of your trade being reversed by cryptodotcom. I guess if you are taking the advantage from the glitch on gala? I don't even think if that's something that was not being allowed here. I think that you didn't even watched it before if cryptodotcom may collapse anytime caused by it was putting whole of its reserved funds into the meme token? So, since all of your money got drained and you're being insulted to pay more money and then stop to use it.
It's impossible to talk with them through their support. Have you sent any email for this scammy exchange site? I have taken whole of my funds there since FTX was collapse.
That's very dangerous to trade with cryptodotcom. Almost all of exchange sites have liquiidty problem except binance.

[marbet85]

After about few month about received their mail with order to return money, they took what was in the account, so both CRO and USDC that were on the application but I can still trade with them but I advise you to be careful of course!