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Time to withdraw from crypto.com

FantomOffshore

FantomOffshore

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Jan 13, 2022
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#1
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FTX "attackers" just now created a liquidity pool called cronext with 600K ETH.

I would withdraw all your crypto from crypto.com, they are looking to create a run on them.

Also withdraw everything from:

- Huobi
- Gate IO

Crypto dot com also send 600 million to Gate for no apparent reason, they said it was a "mistake". Management refuses to respond

Get out.
 
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#4
JohnnyDoe said:
Source of this info?
Click to expand...
For the accidental transfer, check this: Crypto.com accidentally sends 320k ETH to Gate.io, recovers funds days after. I've been waiting for management of crypto.com to explain themselves on the Twitter space with Mario Nawfal and they don't want to come, which means they are most likely full of s**t. Don't take any chances and take everything of exchanges, the contagion is too high.

I've been in the Twitter space with a lot of the industry leaders for three days straight now and Kim Dotcom also has a Binance revelation coming up in an hour or so.

Gabriel Abed literally just said, not able to comment on events unfolding at Binance and after having had a talk with CZ, "just take all your crypto off exchanges, I leave it at that and expect you guys to read between the lines". This was said like two minutes ago.

Don't take any chances and get it out. I know for a fact Gate IO was trading against their customers. Huobi I can not confirm. When it comes to crypto.com, you don't send millions in customer deposits to Gate by accident, it's bulls**t.

I can post more updates here, could say a lot more I've heard these past hours but do not have the time.

Get your money of a CEX before Monday is my advice. Just wanted to give a heads-up to anyone not following this in real-time.

JackAlabama said:
twitter... afaik a "sending mistake" has been confirmed.
Click to expand...
It is confirmed on-chain as well. Also, this Tx from yesterday: Ethereum Transaction Hash (Txhash) Details | Etherscan. I just wouldn't take any chances during these volatile times.
 
#5
FantomOffshore said:
FTX "attackers" just now created a liquidity pool called cronext with 600K ETH.

I would withdraw all your crypto from crypto.com, they are looking to create a run on them.
Click to expand...
call me oldschool or whatever but I don't get it

one either uses services of an institution that holds all client funds seperately and then no run is possible by definition - I BELIEVE (don't know of course) that for example Kraken is that kind of company but despite of that I'd never keep there more than say 10-20k or so for couple of hours/days

or one is into gambling/trading/investing and the institution is using client's funds and then the counterparty risk should be calculated into the ROI which often disqualifies such an activity
 
#6
void said:
call me oldschool or whatever but I don't get it

one either uses services of an institution that holds all client funds seperately and then no run is possible by definition - I BELIEVE (don't know of course) that for example Kraken is that kind of company but despite of that I'd never keep there more than say 10-20k or so for couple of hours/days

or one is into gambling/trading/investing and the institution is using client's funds and then the counterparty risk should be calculated into the ROI which often disqualifies such an activity
Click to expand...
Well, check this for example: Gate.io and Crypto.com Appear to Be Faking Proof of Reserves

Most of these "institutions" in crypto don't really hold their clients funds, they do as they please with them. Kraken I would trust as well, but right now there is just not a reason to not take your tokens off exchanges and wait the carnage out, because this is not over.

The attackers were FTX insiders and likely know stuff about crypto.com, they could also just be fucking around, but if you want to take that gamble you do you.

This is the CEO whom mistakenly withdrew customer funds to another exchange and calls it FUD:
https://twitter.com/x/status/1591741801245052928

Still hasn’t answered questions about cold wallets structure, partial asset gap, etc? Using SBFs comms playbook is not a good look here… just get out.

For Huobi you can check this:
https://twitter.com/x/status/1591641783683133440

FantomOffshore said:
Well, check this for example: Gate.io and Crypto.com Appear to Be Faking Proof of Reserves

Most of these "institutions" in crypto don't really hold their clients funds, they do as they please with them. Kraken I would trust as well, but right now there is just not a reason to not take your tokens off exchanges and wait the carnage out, because this is not over.

The attackers were FTX insiders and likely know stuff about crypto.com, they could also just be ******* around, but if you want to take that gamble you do you.

This is the CEO whom mistakenly withdrew customer funds to another exchange and calls it FUD:
https://twitter.com/x/status/1591741801245052928

Still hasn’t answered questions about cold wallets structure, partial asset gap, etc? Using SBFs comms playbook is not a good look here… just get out.

For Huobi you can check this:
https://twitter.com/x/status/1591641783683133440
Click to expand...
JUST IN: Hong-based crypto-exchange AAX suspends all operations, citing system upgrades.

https://www.aax.com/en-US/
 
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#7
Here the windfall starts...

Crypto.com always seemed extremely shady to me (does anyone recall their previous brand, Monaco, and all 2017 ICO stuff?)

The question is: if Binance wipes out like FTX did, would there be any venue to find liquidity for 99% of shitcoins on the market?
 
#9
JohnnyDoe said:
come on Kim Schmitz is not exactly a reliable source of information rof/%
Click to expand...
No, that's why I didn't post what he said.
FinTech Avenger said:
Here the windfall starts...

Crypto.com always seemed extremely shady to me (does anyone recall their previous brand, Monaco, and all 2017 ICO stuff?)

The question is: if Binance wipes out like FTX did, would there be any venue to find liquidity for 99% of shitcoins on the market?
Click to expand...
Uniswap ;-). I don't think Binance will fail, they have 25B of stables according to Nansen.
 
#14
Kim Dotcom gave sensitive information to the feds when he was running Mega. Now he runs his mouth instead of stuffing it with Doritos and playing CoD.

Crypto.com helped Gate.io pass an audit and the only reason I can think of why they would do that, is for Gate.io to help them back with keeping their Ponzi running.

Only consider Kraken, Bitstamp and Swissborg safe. As a matter of fact, hold your cryptos yourselves.
 
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#15
TRUSTWALLET has been on the rise today since the average crypto user think its to difficult to setup a metamask and TRUSTWALLET (binance ownership wallet) is a middle way. This proves that community is resilient and want to stay.... but at the same time are not willing to understand all the risks involved....
 
#16
Not suspicious at all *cough *cough
1668368753190.webp
 
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