Crypto.com Recovers $400 Million After Misplaced Ether Transfer

After unintentionally transferring money to the wrong account, Crypto.com claimed to have retrieved approximately $400 million.

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The well-known exchange received cryptocurrency Ether back from the Asian exchange Gate.io.

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The firm was required to transfer 320,000 Ether to a new cold storage address, a kind of offline wallet..

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However, according to the exchange CEO, the cash were instead routed "to a whitelisted external exchange address.".

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The representative, however, failed to specify if customer funds were utilized in the move.

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Following the demise of competing exchange FTX.com, the crypto market has been stirred

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The cryptocurrency market has recently come under increasing scrutiny.

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