CoinMarketCap appears to be in hot water, with Crypto.com CEO Kris Marszalek slamming them for underreporting the former’s trade volume. According to Marszalek, CoinMarketCap has shifted the position to 14th with a $1.8 billion trading volume.
Crypto.com, on the other hand, was ranked third by CoinGecko, with a $3.1 billion trading volume.
In a tweet released on Christmas Day, Marszalek slammed CoinMarketCap, saying:
“Merry Christmas to team CoinMarketCap, who, a week after my response to their poorly worded tweet, arbitrarily reduced our exchange ranking to 14th. We are 2nd/3rd on CoinGecko, so you guys know where to look for real and market neutral data.”
The tweet referred to by the Crypto.com CEO is an exchange between the two, with Marszalek finally declaring that Crypto.com is attempting to remove CoinMarketCap’s faulty pricing feeds from their platform. Due to a malfunction that they were experiencing at the time, CoinMarketCap has witnessed a substantial increase in customer complaints.
CoinMarketCap showed a substantial surge in the price of cryptocurrencies as a result of the issue, which had a knock-on impact on crypto businesses that rely on its data.
The CoinMarketCap glitch drew a lot of attention to the aggregator, but it was for all the wrong reasons. Because of the issue, prices on CoinMarketCap skyrocketed, affecting all major cryptocurrencies. Bitcoin’s price was shown to be a mind-boggling $789 billion per coin. Engineers eventually sprung into action and patched the error after it had been active on the website for almost an hour.
CoinMarketCap has recently been in the spotlight for all the wrong reasons, with the price-tracking website also falling prey to a breach that exposed over 3.1 million users’ email information. “Have I Been Pwned?” was the first to disclose the data breach.
According to the website, the breach occurred on October 12th and was discovered after the obtained email addresses were traded on multiple hacker forums online. The company quickly reassured its users that the attack had only resulted in the theft of email addresses and that no passwords had been exposed.