Cryptonews Withdrawals reportedly rose and the exchange's Cronos token fell in price on the news 👀
Sunday that 106,000 Bitcoins have been off-ramped from centralized exchanges “[f]ollowing the collapse of FTX.”
Nor was it the first time in recent history that Crypto.com sent out an erroneous transaction. In August, that it sent an Australian woman who requested a $100 refund more than $10 million, and was suing to recover it.Another part of the problem is that news broke just as Crypto.com had joined the post-FTX stampede of exchanges seeking to put out audited proof-of-reserves statements as quickly as possible.of Crypto.com’s major cold wallet addresses “[w]hile the Proof of Reserves audit preparation is underway,” noting in the process that the exchange had a little more than 391,000 ETH in its $2.
“If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away. Stay #SAFU. 🙏”fintech consultant Zennon Kapron as saying “One of the theories floating around is that the exchanges are moving crypto around to shore up their balances and make everything look good even when it's anything but.”
Beyond that, part of Crypto.com’s transparency effort was a dashboard it put together with blockchain analytics firm Nansen.ai that raised eyebrows when it revealed that more than 21% of its assets were in the shiba inu meme token — roughly a third more than it has in ether — raising eyebrows and Twitter chatter.that the “reason our Proof of Reserves include Shiba is because we hold customers balances 1:1. Thus, our Proof of Reserves are dictated by our customer holdings.”to the L.A.
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