Crypto.com Recovers $400 Million After Misplaced Ether Transfer
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Crypto.com said it recovered almost $400 million in cryptoasset Ether from Asian exchange Gate.io, after it accidentally transferred the funds to the wrong account.
Crypto.com said it recovered almost $400 million in cryptoasset Ether from Asian exchange Gate.io, after it accidentally transferred the funds to the wrong account.The company was supposed to move 320,000 in Ether to a new cold storage address -- a type of offline wallet -- but the funds were sent instead “to a whitelisted external exchange address,” Crypto.com Chief Executive Officer Kris Marszalek said on Twitter. Crypto.com's initial Oct. 21 transfer represented more than 80% of the exchange's total Ether holdings, according to a partial proof of reserves provided by Marszalek on Nov. 11. A spokesperson for the ...