Crypto.com in trouble?

[bittraffic]

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.

[AnonBitCoiner]

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.

[wastagnn]

Is there currently a problem with deposits??

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

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.

[ethereumhunter]

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.

[Reid]

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.

[JamesDaniel90]

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.

[dwminer1]

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!

[Yamifoud]

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 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.

[o48o]

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!

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.

[posi]

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.

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.

[JamesDaniel90]

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

[poodle63]

Is there currently a problem with deposits??

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

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.

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

[BigBos]

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?

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.

[abel1337]

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?

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.

[uneng]

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.

[o48o]

-cut-
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.

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.

[Flexystar]

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.

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?

[Bananington]

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.

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.

[Reid]

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.

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.

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.

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

Hopefully. My high expectations are reduced but I would still like Crypto.com to clear this out so that CRO could go back up.

[dwminer1]

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?