Following the slow processing of deposits and withdrawal requests, leading crypto payment provider Crypto.com has announced that both services will be suspended until the issue is resolved.
Speaking about the development today, Kris Marszalek, co-founder and CEO of Crypto.com said the platform’s payments processing server encountered “computing and parsing limitations” due to multiple users’ requests.
The Hong Kong-based firm has assured users that their funds are safe while adding that its team is working round the clock to resolve the issue.
Marszalek added that the issue would likely be resolved in the next 12 hours, and the firm will process all pending withdrawal and deposit requests that are yet to be completed.
The news about the suspension of both services did not go down well with users, as they voiced their frustration on Twitter.
One of the users, known as Guillaume Garcia, frowned at Crypto.com’s delay in communicating the issue to the public. Despite the problem persisting for more than 24 hours, Garcia said the firm failed to notify users on time via any of its channels, so they could take caution and avoid the unnecessary inconvenience.
“The communication of CDC is near to 0%,” Garcia added.
This is not the first time that cryptocurrency-related firms will halt deposits and withdrawal services due to unplanned circumstances. While these problems arise unexpectedly, it is important that they are quickly resolved or promptly communicated to users, as any delay could stir unnecessary tension.
Notably, Crypto.com’s user base is increasing rapidly daily due to the roll-out of enticing features and services. Crypto.com had announced that the number of users on its platform went from one million to two million in just six months, which caused its CRO token to spike by 24% at the time.
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