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After the chief executive of Crypto.com said that the cryptocurrency exchange
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Had mishandled an approximately $400 million transaction, customers pulled their funds from Crypto.com.
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Kris Marszalek, Chief Executive of Crypto.com, stated on Twitter that the transfer was sent incorrectly to an account on another exchange.
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A large amount of Ethereum, a popular cryptocurrency, was transferred on Oct. 21.
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However, it was discovered by Twitter users who flagged the transfer as unusual based on publicly accessible blockchain transaction records.
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Over the weekend, concerns about Singapore-based Crypto.com spread throughout the internet, with prominent digital-currency figures aiming.
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After the sudden collapse of FTX in a matter of hours, cryptocurrency traders are now on edge.
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It went from being one of the most trusted exchanges to bankrupting within a week.
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Crypto.com's cryptocurrency lost 20% over the previous 24 hours. It traded at 6 cents per unit.
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