Crypto Exchanges Gate.io and Crypto.com Appear to Be Faking Proof of Reserves
Crypto.com have replied the movement of funds, stating The ETH transfers were made over three weeks ago, on October 21st to Crypto.com whitelisted corporate account at Gate.io. Crypto.com proceeded to withdraw the funds back to its cold wallets over the following days.
Etherscan data, as cited by Conor, showed that Crypto.com sent the funds to Gate.io on Oct. 21 while Gate.io sent back 285k ETH within a week. He noted that both the sender and receiving addresses were connected to Crypto.com. However, the CEO of the exchange, Kris Marszalek, explained that the transfer was a mistake. He claimed they were supposed to be transferred to another cold wallet but instead sent to a whitelisted external wallet.
Source
@TradeCryptoNow
