24/7 Cryptocurrency News

Is Crypto.Com Next After FTX? CRO Price Down 50%

Crypto.com saw a massive pullout by investors over the weekend as CEO, Kris Marszalek admitted to mishandling the $400 million transaction.
Published by
Is Crypto.Com Next After FTX? CRO Price Down 50%

The global crypto market is trading under increased uncertainty due to the collapse of FTX, a cryptocurrency exchange. However, growing problems for another crypto exchange, Crypto.com, have worried the market participants.

Advertisement

Crypto.com mishandled ETH trnx

As per reports, Crypto.com saw a massive pullout by investors over the weekend as Company’s CEO, Kris Marszalek admitted to mishandling the $400 million transaction. He mentioned that the transfer was sent to the wrong type of account on another exchange.

Twitter users flagged a heavy transaction of moving $400 million worth of Ethereum on October 21, 2022. They highlighted to some other transfers between other small platforms and exchanges as evidence. Meanwhile, Marszalek has assured that it was done accidentally and the tokens have been recovered.

However, Crypto.com CEO comments have failed to regain the confidence of the investors. Its native token, Cronos price has dropped by a massive 50% in the last 7 days. This comes as a huge threat to the digital asset market after the collapse of FTX.

Advertisement

CRO price drops

Crypto.com announced that their CEO will be going live on Youtube to answer all queries and speculations about the transactions reported on the platform. He wrote that a lot has happened in the last week and he wants to address that.

A spokesperson from Crypto.com highlighted that the platform registered higher levels of activity. However, he asserted that assets fully matched customer deposits. He added that fluctuations in deposit and withdrawal activity do not affect our levels of service.

Cronos prices have dropped by over 10% in the last 24 hours. It is trading at an average price of $0.063848, at the press time. CRO’s 24 hour trading volume is up by 175% to stand at $255 million.

Whale alert reported that 200 million CRO tokens have been added by a whale wallet in a single transaction. Over $11.5 million worth of Cronos token were moved from crypto.com.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading

FG Nexus has announced that it will allow shareholders to convert common stock into tokenized…

October 2, 2025
  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025
  • Bitcoin News

Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months

Banking giant Citigroup has revised its Bitcoin prediction to $231,000 in the next 12 months,…

October 2, 2025
  • 24/7 Cryptocurrency News

Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”

The Ethereum price and BMNR stock have recorded modest gains thanks to BitMine’s recent $1…

October 2, 2025
  • 24/7 Cryptocurrency News

ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?

In a fresh development, multiple ASTER tokens have been sent to Binance spot wallets, following…

October 2, 2025