Crypto.com boss answers questions on YouTube after transaction errors

14.11.2022

SINGAPORE (Reuters) – Singapore’s cryptocurrency exchange said its chief executive will appear live on YouTube Monday to answer questions about some of the transactions on the platform that caused speculation and withdrawals.

CEO Chris Marszalek said Sunday on Twitter that the exchange mistakenly sent 320,000 ethers to another exchange called Gate.io on Oct. 21. Those 320,000 ethers represented 80 percent of the Ethereum tokens that Crypto.com owned and were worth about $400 million.

It was scheduled to begin its broadcast at 07:00 GMT.

Marszalek said the ethereum had been recovered and returned to the exchange, but that didn’t calm the agitated market. The Wall Street Journal reported that withdrawals on Crypto.com rose over the weekend following Marschalek’s tweet.

The movement of ether at Crypto.com was discovered by a user digging into transactions after the company published its cold wallet addresses online.

Reuters was not immediately able to reach Crypto.com for comment.