Crypto.com Suspends Withdrawals Following 'Unauthorized Activity' (2024)

FAQs

Has crypto.com suspended withdrawals? ›

‌com Pauses Withdrawals of USDC and USDT on Solana. Cryptocurrency exchange Crypto.com wrote to customers today in an email seen by Decrypt to notify them that all deposits and withdrawals for Tether's USDT and Circle's USDC have been suspended on the Solana network.

The name of the bank account you provide must match the legal name associated with your Crypto.com App account. Mismatched names will result in a failed withdrawal and fees may be deducted by the receiving bank for processing the refund.

Only institutional clients enjoy fee-free withdrawals at Crypto.com. All users have a daily maximum fiat withdrawal limit of $1,000,000 after they fully verified their Crypto.com account.

Here is how to withdraw money from Crypto.com and transfer it to your US bank account on the ACH network: Step 1: Open the "Fiat Wallet" from the menu button or the “Accounts” menu. Then press "Transfer" > "Withdraw" > "USD". Step 2: Click on your USD balance and choose to Withdraw USD.

On June 9, 2023, Crypto.com announced plans to shut down its institutional exchange in the United States by June 21, citing low demand from large financial institutions.

In the event of bankruptcy, crypto customers with custodially held assets are typically last in line to receive payment. In other words, those who have their cryptocurrencies locked away in non-custodial or self-custodial wallets won't be affected since they own the private keys.

If you've recently purchased crypto via card, ACH or Open Banking, your crypto may be subject to a holding period. During a holding period, you cannot withdraw from your cash (GBP, EUR, or USD) account, send funds to your DeFi Wallet, or send to an external wallet.

Withdrawals- Processing Time

Withdrawals to an external address may take 2-3 hours to process. Withdrawals to the Crypto.com App are instant.

Is Crypto.com safe to store crypto? Yes and no. Crypto.com is a secure method to buy crypto and actively trade it, but an external hardware wallet is a more secure storage option if you plan to store large amounts of crypto for a long period of time.

All Users' deposits are held in cold storage, for security reasons, however, withdrawal requests - for all cryptos - are automated. In most cases, withdrawals are almost instant and normally should take no longer than 2-3 hours to be processed.

What is the daily transfer limit for crypto com? ›

Is there a daily transfer limit? You can transfer up to 50,000 USD or equivalent every 24 hours.

If you forgot to include a memo/tag or inputted it incorrectly, you can contact Customer Support to recover your deposit manually.

For example, if you need to dispute a purchase, your credit card company has a process to help you get your money back. Cryptocurrencies typically do not come with any such protections. Cryptocurrency payments typically are not reversible.

The Crypto.com app is indeed a safe cryptocurrency platform for cryptocurrency exchange. This safety is underpinned by the platform's comprehensive security measures, which include advanced MFA, real-time monitoring for suspicious activities, and substantial insurance coverage to protect user funds and assets.

User reports indicate no current problems at Crypto.com.

Your virtual assets are stored 100% safely and perfectly.

We hold all customer assets deposited on our platform in institutional-grade reserve accounts on a 1:1 basis, meaning funds are responsibly backed by Crypto.com and accessible at customers' convenience.

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