Crypto.com users report abnormally high fees

The fee for withdrawing ALI tokens from the platform has reached 50% for some customers

09.02.2023 - 09:50

1265

3 min

What’s new? Customers of cryptocurrency exchange Crypto.com reported high fees for processing orders to sell the ALI token. A Twitter user under the nickname Yogi83 wrote that he bought $50 worth of ALI a few weeks ago before the asset’s rate rose. Had he attempted to sell the coins, the platform’s fee would have been $60 or about 38% of the entire amount.

So I put $50 in this coin a few weeks ago and it’s been on a nice run. I went to see how much I would get if I sold. @cryptocom would take $60 in fees to sell that’s 38%. Yall need to do better. That’s ridiculous. @kris pic.twitter.com/OYvy3wR6pl — Yogi83🍣 (@yogir83) February 8, 2023

A user under the nickname Trading Buzz complained about an even higher fee. He tried to withdraw ALI tokens and “remained utterly shocked” when he saw the 50% fee for the transaction.

Are you having some technical problems @cryptocom? I tried to withdraw some $ALI and i remained utterly shocked to see 50% withdrawal fees. Is this some technical glitch? #crofam #Cryptocom — Trading Buzz (@buzz_ingg) February 7, 2023

The Crypto.com team responded to the incident and asked the user to write a message to support with all the details.

What is known about Crypto.com? It is a centralized crypto exchange (CEX) founded in 2016. The platform hosts 253 coins and 496 trading pairs. As of February 9, the daily trading volume is $372,55 million, according to CoinGecko. The native token CRO is trading at $0,082181, down by 2% in 24 hours. The asset ranks 34 in the cryptocurrency ranking with a capitalization of $2,08 billion.

On February 3, an anonymous user made a $55 408 transaction on the Ethereum network, paying a fee of $32 180. In this, the average fee on Ethereum rose by 29,27% in January.

In early December, users reported higher fees and transaction failures as a result of the TRON blockchain upgrade. And in August, the average transaction fee on the Bitcoin network fell below $1.

Author: