The database problem has increased the downtime on Crypto .com exchanges. According to a series of tweets posted by platform manager Chris Marsalik, the exact cause of these problems is unknown. However, Marshalek confirmed that some users took advantage of the situation by manipulating the price of ETH / USDT before the fall.
These users made a profit by selling other cryptocurrencies “in droves”, which allowed them to carry out what the CEO called “illegal transactions.” When the company discovered the situation, the company took its services offline.
Fortunately, attempts to withdraw these illegal funds were thwarted by the site’s risk management system, which allowed the company to return the balances to their previous state. On September 21, Crypto.com released an update stating that the application is “connected and fully functional” and that “all tools are safe.”
Crypto.com CEO told Cointelegraph:
The Crypto .com app has been active since yesterday, and the stock exchange is about to return online. Customers’ money has never been compromised. We are growing fast and the systems are naturally under pressure. In response, we have strengthened our infrastructure to offer more opportunities to meet the growing demand. “.
In the latest news, the exchange provided versions of the app and the exchange that have been translated for French and Spanish-speaking audiences.