Gate.io audited 7 days after “accidentally” receiving 320k ETH from Crypto.com
twitter.com
twitter.com
Oct 28 - Gate.io posts proof of reserves report
Oct 25-30 - Gate.io returns 285k ETH to Crypto.com
The timing is suspect.
More context, including some elusive replies from Crypto.com: https://twitter.com/jconorgrogan/status/1591517130150772740
On-chain data: https://etherscan.io/txs?a=0x6262998ced04146fa42253a5c0af90c...
https://twitter.com/kris/status/1591605600638881792
Do they think we are that dumb not to understand their musical chair game?
All funds were returned. We have single digit USD million balance on Gate as of now.
It was supposed to be a move to a new cold storage address, but was sent to a whitelisted external exchange address. We worked with Gate team and the funds were subsequently returned to our cold storage. New process and features were implemented to prevent this from reoccurring.
First, 35k were not returned. So he lied that all were returned. Second, he says this was a mistake. How could you trust an organization that sends $500m to someone else by mistake, and with a protocol that does not allow you to reverse transactions? Even if he's honest and it was a mistake, just what the heck?
So no, I don't expect a lot will be in handcuffs.
I don't understand how people still fall for this stuff after so many years. If you want to buy crypto, go to a reputable exchange, buy it, and transfer it to your own wallet asap. Then do the rest of transactions/trades/whatever on-chain and stay way from these centralized things. If you did that you wouldn't have been impacted by any of the stuff that has happened this year (other than the price of course).
Funny fact. Jan Marsalek was the mastermind behind Wirecard. Crypto.com CEO's name is Kris Marszalek.
Not clear if they are related.