{"id":69992,"date":"2022-11-13T17:13:36","date_gmt":"2022-11-13T15:13:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69992"},"modified":"2025-09-07T23:24:51","modified_gmt":"2025-09-07T20:24:51","slug":"crypto-com-returned-320000-eth-mistakenly-sent-to-gate-io-address","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-com-returned-320000-eth-mistakenly-sent-to-gate-io-address\/","title":{"rendered":"Crypto.com returned 320,000 ETH mistakenly sent to Gate.io address"},"content":{"rendered":"<p>The crypto platform Crypto.com has returned 320,000 ETH (~$396 million at the time of writing) that were mistakenly sent to Gate.io&#8217;s address, according to Kris Marshalek, the company&#8217;s chief executive.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\"><a href=\\\"https:\/\/t.co\/pFc4Pz9nFR\\\">https:\/\/t.co\/pFc4Pz9nFR<\/a> proceeded to withdraw the funds back to its cold wallets over the following days. The entirety of ETH was successfully withdrawn by <a href=\\\"https:\/\/t.co\/pFc4Pz9nFR\\\">https:\/\/t.co\/pFc4Pz9nFR<\/a> and returned to our cold storage.<\/p>\n<p>\u2014 Kris | Crypto.com (@kris) <a href=\\\"https:\/\/twitter.com\/kris\/status\/1591741802591453186?ref_src=twsrc%5Etfw\\\">November 13, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On November 11, Crypto.com disclosed information about hot and cold wallet balances. According to the Nansen dashboard, the platform holds more than $2.4 billion in digital assets, with over 22% of the funds accounted for by the meme token Shiba Inu (SHIB).<\/p>\n<figure class=\\\"wp-block-image size-large is-resized\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/nansen-1-1024x391.png\\\" alt=\\\"Crypto.com returned 320,000 ETH mistakenly sent to Gate.io address\\\" class=\\\"wp-image-190727\\\" width=\\\"840\\\" height=\\\"320\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/nansen-1-1024x391.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/nansen-1-300x114.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/nansen-1-768x293.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/nansen-1.png 1256w\\\" sizes=\\\"auto, (max-width: 840px) 100vw, 840px\\\" \/><figcaption>Crypto.com&#8217;s reserves. Data: Nansen.<\/figcaption><\/figure>\n<p>Following this, some users noted that on October 21, Crypto.com sent 320,000 ETH (~82% of Ethereum on the platform&#8217;s balance) to Gate.io&#8217;s address. Marshalek said the operation was a mistake.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">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.<\/p>\n<p>\u2014 Kris | Crypto.com (@kris) <a href=\\\"https:\/\/twitter.com\/kris\/status\/1591605600638881792?ref_src=twsrc%5Etfw\\\">November 13, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;It should have been moved to a new cold storage address, but was sent to a whitelisted external exchange address. We worked with the Gate team, and the funds were returned to cold storage. To prevent a recurrence of such situations, new processes and features have been implemented,\\&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>Gate.io confirmed the return of funds. The exchange&#8217;s founder Li Han noted that the <a href=\\\"https:\/\/proof-of-reserves.trustexplorer.io\/clients\/gate.io\\\">published<\/a> reserves report does not account for the cryptocurrency received from Crypto.com, as the audit snapshot was taken on October 19.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">(2\/2) <a href=\\\"https:\/\/t.co\/PHnRJkrA9k\\\">https:\/\/t.co\/PHnRJkrA9k<\/a> transferred 320,000 ETH to their <a href=\\\"https:\/\/t.co\/fMCiAnzWpj\\\">https:\/\/t.co\/fMCiAnzWpj<\/a> account on Oct. 21 2022 02:52 UTC, 2 days AFTER <a href=\\\"https:\/\/t.co\/fMCiAnzWpj\\\">https:\/\/t.co\/fMCiAnzWpj<\/a> had completed the Proof of Reserves.<\/p>\n<p>Check the transaction here\ud83d\udc47<a href=\\\"https:\/\/t.co\/5aX8BnNVUn\\\">https:\/\/t.co\/5aX8BnNVUn<\/a><\/p>\n<p>\u2014 Lin Han (@han_gate) <a href=\\\"https:\/\/twitter.com\/han_gate\/status\/1591668396508303362?ref_src=twsrc%5Etfw\\\">November 13, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In the wake of <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">bankruptcy of the FTX Group<\/a>, cryptocurrency exchanges began publishing information about reserves in digital assets. In particular, similar reports have already been published by <a href=\"https:\/\/forklog.com\/en\/news\/binance-discloses-details-of-its-cryptocurrency-reserves\">Binance<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/huobi-discloses-reserves-exchange-holds-assets-worth-3-5-billion\">Huobi<\/a>.<\/p>\n<p>In November, Changpeng Zhao warned of a &#8216;cascading&#8217; crisis in the crypto industry.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Crypto.com cryptocurrency platform returned 320,000 ETH (~$396 million at the time of writing) that were mistakenly sent to Gate.io&#8217;s address, according to Kris Marshalek, the company&#8217;s chief executive.<\/p>\n","protected":false},"author":1,"featured_media":69993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1452,1624],"class_list":["post-69992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-com","tag-gate-io"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69992"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69992\/revisions"}],"predecessor-version":[{"id":69994,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69992\/revisions\/69994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69993"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}