Crypto.com froze a journalist's account and funds, gave contradictory explanations for weeks

A Crypto.com Exchange account belonging to BeInCrypto journalist Bradley Peak was locked and his funds made inaccessible, with customer support providing two contradictory account statuses over more than a week. As of August 21, Peak had received no deadline for fund release and no account-specific explanation from the exchange.

What the logs show

Peak received a "Crypto.com Exchange: Successful Login" email on August 13. The exchange nevertheless returned a 401 Unauthorized response when he attempted to reach his account. Two separate support agents gave opposite answers about its status. One said the account was "rejected," without defining the term or saying when that designation was applied. A second agent said there was no Exchange account under his email address at all. Peak responded with screenshots of prior login confirmations. BeInCrypto reviewed those screenshots and found no explanation for the contradiction.

Support escalated the case, said another team held it, and offered no timeframe. BeInCrypto submitted 12 questions to Crypto.com covering the account's status, the meaning of "rejected," the location of the funds, and the steps required to withdraw them.

Crypto.com's on-record statement said it "follows strict regulatory protocols" and "may place restrictions on accounts while such reviews are ongoing." It did not confirm whether Peak's account is under any such review, did not address the contradictory statuses, and gave no deadline or mechanism for releasing funds.

Regulatory framing and what it leaves open

The statement cited the company's standing as a registered firm under UK money-laundering rules. The registered entity is Foris DAX UK, which holds FCA registration for certain cryptoasset activities under that framework. The FCA's broader authorization regime is expected to begin in October 2027, and MLR registration does not guarantee authorization under it. FCA guidance specifies that customers of MLR-registered firms have no access to the Financial Ombudsman Service or the Financial Services Compensation Scheme.

That gap matters here. The regulatory framing gives the exchange room to avoid disclosing specifics while the user has no formal complaints route available.

After BeInCrypto's inquiry, Crypto.com asked Peak for an external wallet address to return his funds. The transfer had not taken place at the time of reporting.

Other 2026 access complaints are visible in Crypto.com's public forum. A Canadian user reported blocked withdrawals following what was described as a "routine review" earlier this year and said access was restored within days after a formal complaint, with no reason given for the original restriction. Other users described 401 errors and support escalation loops. One reported a four-day lockout after a phone-number change.

In March 2026, Crypto.com cut roughly 180 roles, about 12% of staff, as it integrated AI. The evidence reviewed does not link those reductions to Peak's case.

What to watch: whether Crypto.com completes the wallet transfer it requested from Peak, and whether the FCA authorization framework expected in October 2027 alters the recourse available to users caught in comparable situations.