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Crypto.com Faces Fraud Accusations Over 70B CRO Token Re-Minting
Crypto.com is currently embroiled in a controversy surrounding the re-minting of 70 billion Cronos (CRO) tokens that were previously burned. The allegations have sparked concerns among investors, who feel betrayed by the company’s actions.
According to ZachXBT, an on-chain researcher, Crypto.com secretly re-minted the tokens without disclosing this information to its users. This move has left a sour taste in many mouths, with some comparing it to FTX’s infamous collapse.
The incident is eerily reminiscent of FTX’s situation, where they manipulated their own token prices and lost millions of dollars for unsuspecting investors. It seems like Crypto.com is on the same trajectory.
It is disheartening that such companies are not held accountable for their actions. They seem to believe that they can manipulate the system without anyone noticing or being able to do anything about it.
Source: https://www.crypto-news-flash.com/crypto-com-faces-fraud-accusations-over-70b-cro-token-re-minting/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-com-faces-fraud-accusations-over-70b-cro-token-re-minting
