390 million euros: this is what the Crypto.com company could have lost following an incredible error. About 3 weeks ago, she indeed transferred 320,000 Ehereum to the wrong wallet, before miraculously succeeding in recovering the funds in full. Worse still, this is not the first time that the firm has committed this kind of thoughtlessness.
Since cryptocurrencies are still a relatively new technology, especially considering its real boom in recent years, there is no shortage of unusual stories about them. When it is not a programmer who has forgotten the password to his wallet which contains 200 million euros in Bitcoin, it is an investor who buys robot-dogs to search a landfill in which he threw his hard drive containing meanwhile 165 million euros.
But all of these “uncertainties” have one thing in common: they are the result of a past error, at a time when it was still impossible to predict the importance that cryptocurrencies would soon take on. Also, it is much more incomprehensible that a company the size of Crypto.com, one of the giants of digital currency exchanges, could mistakenly send almost 400 million euros to the wrong wallet. Yet that is precisely what happened.
One of the biggest cryptocurrency companies makes a mistake at 390 million euros
Kris Marszalek, CEO of Crypto.com, confirmed on Twitter that this gigantic mistake was indeed made. About 3 weeks ago, the company therefore sent 320,000 Ethereum, or 390 million euros, to a competing company, Gate.io. It’s hard to explain how such a blunder could have happened. It should be noted, however, that a few days earlier, Crypto.com published a list of cold wallets (understand not connected to the Internet, therefore more secure) on which its funds are stored, for the sake of transparency.
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Fortunately for the company, Gate.io was kind enough to return the entire amount received by mistake to its owner. But that is not enough to reassure investors. Indeed, as surprising as it may seem, Crypto.com is not at its first attempt. Last August, the firm indeed mistakenly transferred 7 million euros to one of its clients, instead of a reimbursement of 66 euros.