Renowned blockchain investigator ZachXBT accuses Crypto.com of reissuing 70 billion CRO tokens, previously declared 'permanently burned', calling it borderline fraud and a betrayal of trust.
The controversy arose after Crypto.com announced a partnership with Trump Media to launch ETFs, where they would handle backend technology, custody services, and supply cryptocurrencies.
ZachXBT questions the choice of Crypto.com as a partner and reveals that the reissued tokens had previously been burned in 2021, going against the community wishes.
The token reissuance has led to outrage from token holders, raising concerns about financial dilution and challenging the immutability principle of blockchain networks.