Binance CEO does not believe that Crypto.com accidentally lost 85% of its Ethereum tokens

The head of the largest cryptocurrency exchange believes that Crypto.com may have colluded with Gate. io to demonstrate the latter’s solvency, CZ tweeted.

If an exchange has to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away. Stay #SAFU.?

— CZ? Binance (@cz_binance) November 13, 2022

«If an exchange is forced to make major movements of its funds before or after the demo of its wallets, it is a clear sign of problems. Stay away from it,» Zhao said.

Earlier today, it became known that representatives of Crypto.com «accidentally» sent 320,000 Ethereum tokens to Gate.io. At the moment, the problem has been resolved and the funds have been returned, but this is not the first time that Crypto.com has transferred large sums to unknown addresses.

Zhao has previously stated that in his opinion, the problems of many cryptocurrency market players will only get worse after the FTX fall, as it reminds him of the 2008 crisis.