Crypto.com, a payment, trading, and financial company, is accused of fraud for secretly re-issuing at least 70 billion CRO tokens that were burned in 2021.
The total circulation supply of Cronos is now 27,408,853,450, making CRO potentially inflationary and reducing its scarcity and value.
CRO has fallen over 91% since its all-time high in 2021 and experienced a 31.2% drop in the last year.
Crypto.com's dominance over the voting ecosystem facilitated the decision to re-mint burned tokens, leading to accusations of a power move to maintain control.