Crypto.com inaccessible due to a technical problem which caused the Ethereum price to rise to 79,000 dollars!
by Eric Martin 
Bug or hack?
This was the question many crypto.com customers had in mind when they discovered that their account was no longer accessible on the crypto exchange or the mobile app!
Exceptional technical maintenance which sometimes is a sign of a hack as has happened to other crypto exchanges in the past.
Crypto.com users also noticed, before the app was shut down, that the Ethereum price had climbed to $79,000!
Surprise in the crypto community, has crypto.com been hacked or is it a big technical bug on the platform?
An Ethereum price at $79,000 is clearly a dream for any ETH token holder.
Too good to be true of course, the CEO of crypto.com, Chris Marszalek, has come to confirm that it is indeed a technical problem which is the cause of this exceptional maintenance of the platform, also known for its MCO bitcoin debit card.
Crypto.com CEO details technical issue
In a post on Twitter, the crypto.com CEO detailed what happened and what caused Ethereum to rise to $79,000.
“Update on the overnight system maintenance:
1. Funds are safe.
2. The maintenance will likely take 24-48 hours
What happened? See thread below.
issue on Exchange caused an outage (root cause still being investigated)
– some users took advantage of the outage to manipulate ETH/USDT price
– they locked in gains by selling to other coins en masse
– tried to withdraw, were blocked by risk systems”
Update on the overnight system maintenance:
1. Funds are safe.
2. The maintenance will likely take 24-48 hours
What happened? See thread below.— Kris | Crypto.com (@Kris_HK) September 21, 2020
24 to 48 hours of maintenance are planned!
Crypto.com will therefore have to repair this failure and correct the technical bug at the origin of this exceptional maintenance which prevents any user from having access to his account or to his funds.
Funds are safe says crypto.com CEO.
The time will therefore be long, one or two days before everything returns to normal, specifies the CEO.
Crypto.com customers are therefore unable to withdraw or deposit funds as well as trade Bitcoin or other cryptocurrencies.
It remains to be seen whether the crypto exchange will make a move to compensate its customers over this technical bug that caused its mobile app and crypto exchange to be put off line.
The CRO price took a hit and fell as a result of this event.
We will therefore have to wait for the next news from the crypto exchange and the restart of the trading platform as well as its mobile application.
Crypto.com users who thought they could sell Ethereum for $79,000 will therefore have their transactions canceled by the platform.
