Gate io dismisses hacking rumors
In a statement posted on the social media platform X, Gate.io refuted reports that the cryptocurrency trading platform had been compromised.
The https://t.co/8kWqgEeplL security team has not detected any abnormalities, nor have any security agencies reported issues. Deposits, withdrawals, and trading are functioning normally. Please do not believe rumors!https://t.co/8kWqgEeplL maintains 100% reserve funds, with the…
— Gate.io (@gate_io) December 13, 2024
Early on Friday morning, a report about the purported security breach of the cryptocurrency exchange started to circulate on X and other Telegram chat groups. However, additional information about the attack was not included in the rumor.
Cryptocurrency Gate.io dismisses hacking rumour
In the X post, the firm stated, “The Gate.io security team has not detected any abnormalities, nor have any security agencies reported issues.”
The firm added that “deposits, withdrawals, and trading are functioning normally. Please do not believe rumors!”
Data from DefiLlama shows that although social media posts that spread the rumor encouraged users to withdraw their money from Gate.io, the overall value of assets on the platform was almost unchanged.
In a subsequent statement posted on its official website, Gate.io stated that it "strongly condemns" actions that propagate misinformation and create panic. The firm further stated, "We reserve the right to pursue legal action."
GateToken surges to new all-time high
The native cryptocurrency of the Gate.io exchange, GateToken, has risen to a new all-time high in spite of social media rumors indicating a possible security breach.
CoinMarketCap data indicates that the coin peaked at $13.79 and then slightly declined to $13.29 at the time of publication. As the utility token of the exchange, it offers advantages like reduced trading fees, involvement in governance, and access to token sales inside its ecosystem.
About Gate.io
Gate.io is ranked among the top 20 cryptocurrency exchanges worldwide by CoinMarketCap. The platform featured more than 3,100 coins and enabled about $7 billion in trading volume in the last day alone. With over 19 million users, it has assets worth $6.2 billion on the exchange.
Disclaimer
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