Exchange Crypto.com sends $400 million in ETH by mistake to an address on Gate.io instead of cold wallet

FlavienNovember 14, 2022

Less than a minute

Exchange Crypto.com sends $400 million in ETH by mistake to an address on Gate.io instead of cold wallet

A few days before revealing their reserves, Crypto.com sent by mistake about 285,000 ETH, worth over $347 million to Gate.io, another crypto exchange, instead of sending it to a cold wallet address. They since managed to get the funds back.
A similar mistake was made in October, with 320,000 ETH this time, provoking rumors of falsification of Gate.io’s Proof of Reserve published on Oct. 28.

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Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.