Crypto.com Faces Allegations of Undisclosed Security Incident Amid Trump Media Partnership

Crypto.com, a prominent cryptocurrency exchange, is under scrutiny following claims by onchain investigator ZachXBT that the platform concealed a significant past incident that could have been a security breach or hack, which at this time is currently unclear. The allegations surfaced today, shortly after Crypto.com announced an expanded partnership with Trump Media & Technology Group, the parent company of Truth Social. The story is still developing.

ZachXBT’s cryptic statement has sparked speculation within the crypto community, raising questions about the exchange’s transparency and its high-profile collaboration with Trump Media and President Donald Trump. As the partnership aims to integrate Crypto.com’s Cronos (CRO) token into Truth Social’s ecosystem, the timing of these claims could impact the exchange’s reputation and the broader adoption of CRO.

ZachXBT’s Allegations and Partnership Details

ZachXBT, a well-known figure in the crypto space for exposing scams and unethical practices, took to X to assert that Crypto.com had covered up a "massive incident" that was never publicly disclosed. He clarified that the event was distinct from previously reported issues, such as the transfer of 320,000 Ethereum to a competitor or concerns about improperly backed stablecoins on the Cronos blockchain. When pressed for details, ZachXBT stated he was unable to share specifics, leaving the community to speculate about the nature of the incident. Given the history of crypto exchanges as targets for hackers and nation-state actors, such as North Korea’s Lazarus Group, many suspect the incident may involve a security breach, hacking incident, or data exploit.

On the same day, Crypto.com and Trump Media announced a strategic partnership to form Trump Media Group CRO Strategy, Inc., a digital asset treasury company focused on acquiring CRO tokens. This venture, backed by a $6.4 billion investment, includes $1 billion in CRO tokens, $420 million in cash and warrants, and a $5 billion credit line from Yorkville Acquisition Corp., a special-purpose acquisition company (SPAC). Trump Media will integrate Crypto.com’s digital wallet infrastructure into Truth Social and Truth+, adopting CRO as a utility token for rewards and subscriptions. The partnership builds on an earlier collaboration announced in April 2025, which focused on launching exchange-traded funds (ETFs) tied to Bitcoin, CRO, and U.S.-centric industries like energy.

The Cronos blockchain, designed for fast, low-cost, and cross-chain smart contracts, is central to this partnership. Crypto.com and Trump Media tout its scalability and interoperability as key to driving a “digital-first American economy” through DeFi and tokenized assets. Trump Media’s purchase of $105 million in CRO tokens, representing roughly 2% of the token’s market cap (currently ranked #31), and Crypto.com’s reciprocal $50 million investment in Trump Media stock underscore the deep financial ties between the two entities. Devin Nunes, CEO of Trump Media, emphasized the partnership’s potential to position CRO as a leading utility token globally.

The announcement drove a 25% surge in CRO’s price, reaching $0.19, with trading volume spiking to over $295 million. However, the positive market response is tempered by ZachXBT’s allegations, which have reignited concerns about Crypto.com’s past actions. In March 2025, the exchange faced backlash for reissuing 70 billion CRO tokens that were supposedly burned permanently in 2021, a move that restored the total supply to 100 billion tokens. Critics, including ZachXBT, labeled the decision as a breach of trust, arguing it diluted the token’s value and undermined the community’s expectations of decentralization.

The undisclosed incident alleged by ZachXBT adds another layer of uncertainty to Crypto.com’s operations. While no concrete details have emerged, the timing of the claim, coinciding with the high-profile Trump Media partnership, has amplified its impact. We are watching for further developments, as any revelation of a security breach or hack could have significant repercussions for Crypto.com’s credibility and CRO’s market performance. For now, the exchange continues to push forward with its ambitious plans, leveraging its partnership with Trump Media to enhance CRO’s utility and visibility in the evolving digital asset ecosystem.