They locked my account for "security reasons" without telling me why. Had to send a million documents. Took 4 days to unlock. Super annoying but at least they eventually fixed it.
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I am an EU-based user with a verified (KYC-approved) account. My experience with Gate has been deeply concerning on two levels. 1. Phishing from official support. While dealing with a withdrawal... See more
this is a very bad exchanger that will mislead u with fake information.i have upgraded up to vip 6 because of one of their event. after i did it,they refused to give me the event spin,and after that,... See more
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If you want to lose your money, send it to my blockchain address. Send it to GATE.... You will lose it anyway. I am a resident of the EU. So when you go to GATE.io as an EU citizen, the warning says i... See more
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Established in 2013, Gate is one of the world's pioneering cryptocurrency exchanges, serving over 22 million users globally. It consistently ranks among the top 3 globally in both trading volume and liquidity. Gate is currently ranked second globally in 24-hour spot trading volume, supporting spot trading, futures trading, margin trading, and wealth management products for over 3,800 cryptocurrencies. The platform offers comprehensive and diversified digital asset trading and blockchain application services. It employs zero-knowledge technology to ensure the 100% verifiability of user assets. According to the latest reserve report, Gate's total reserves exceed $10 billion, with a reserve ratio of 128.58%.
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- gate.io
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LA USDT, Gate
I was fraud by Gate 1879 USDT due to this incident. I would like to request compensation. My possotion was liquidated in 1 second after opened.
uid: 6626338.
On that day, I opened a short position at 15:04:01, and it was forcefully liquidated at 15:04:01, just <1 seconds later, at an extremely inflated price of $9.98. The total realized loss was -1879.20 USDT, as recorded in order ID 241787004994493191.
Immediately prior to liquidation, I had sold 0.29 LA at $3.5 (Order ID: 241787004994472231). The liquidation price was more than 6 times higher, despite no corresponding movement in the broader market. In this order was liquidated balance with $1879,2 USD.
Most critically, according to Gate.io’s own index source page price indexes LA USDT,
the LA/USDT price index was calculated based on three exchanges: BitGet, ByBit, and MEXC — none of which recorded prices above $1.6 during this period.
In addition:
The trading pair was removed shortly after the incident, and later restored.
The trade was opened and liquidated within 1 second, making it impossible to react.
Gate.io acknowledged receipt of my support inquiry and initially promised compensation 3 times, but then reversed their decision with no justification.
I want request refund to my account.
Addition after Gate's response to my review:
The exchange did not take measures to compensate for the losses, the exchange's response under my review about the measures taken does not bear the truth, because it is impossible to compensate for a negative balance that has never existed on any exchange, article 45399 has nothing to do with the compensation of funds.
4 June 2025
Reply from Gate.io
Thank you for your feedback. We understand your concern regarding the recent price volatility and we’re genuinely sorry for any inconvenience this may have caused. Due to a significant deviation in the mark price of the LAUSDT perpetual futures from the actual market price, emergency measures were taken last June 4th. This includes:
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform —users will not bear any negative balance.
Despite this, we understand you still have additional concerns about the liquidation. To further check your support ticket, please send us a DM via X through @Gate_io with your ticket number and a screenshot of your liquidation details. We'll look into this matter for you.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate doesn't care about it's customers and price manipulations
At first, I thought it was a good exchange and used it regularly, but...
On June 4, 2025, while trading the LA token, the price experienced an abnormal spike of 60x or more (from $0.5 to $30), leading to massive liquidations of users — myself included.
Support has completely ignored all inquiries regarding this incident and certainly hasn’t issued any refunds. Every message receives the same generic response.
Kevin Lee, Chief Business Officer at Gate.io, labeled the $LA contract movement as "abnormal activity" via social media (X/twitter platform).
An official announcement from Gate.io later confirmed that the contract price diverged significantly from the broader market during the launch.
Despite these admissions, the platform has offered no compensation, resolution, or recovery options to the impacted users.
Gate has still NOT COMPENSATED the losses, and in every response they attach a announcement post about closing negative balances that have nothing to do with users’ actual losses
I strongly advise against using this exchange.
4 June 2025
Reply from Gate.io
Thank you for your feedback. We understand your concern regarding the recent price volatility and we’re genuinely sorry for any inconvenience this may have caused. Due to a significant deviation in the mark price of the LAUSDT perpetual futures from the actual market price, as you may have known, emergency measures were taken last June 4th. To further check regarding your request, please send us a DM via X through @Gate_io with your UID and a screenshot of your liquidation details. We'll look into your concern in detail.
Gate.io is a total scam
Gate.io is a total scam. They drew price of future contract $LA and I lost all my money. Never use this exchange !!!
4 June 2025
Unprompted review
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perpetual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perpetual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
Mass liquidation of users' futures accounts on LA/USDT
This exchange specifically draws the price to liquidate users. On June 4, I lost 16000 dollars on token LA, because Gate drew a rate of 52$ at a price of 0.6$ on dex and other exchanges.
I entered a trade for $500, but since Gate took the price from the Kuсoin exchange where the liquidity was a hundred dollars, and someone bought in an empty exchange stack and pushed the price to 52$, I had my entire account liquidated ($16000). I was using 1x Isolated Margin.
Five minutes after record liquidations, Gate Exchange closed trading in this futures. But they decided not to compensate the victims.
Remember, when trading on Gate you can be given any price (100-1000x) in the moment and have your entire futures account liquidated
4 June 2025
Unprompted review
Reply from Gate.io
We truly understand your concerns and appreciate your honest feedback. Regarding the recent price volatility, we’re genuinely sorry for any inconvenience this may have caused. Due to a significant deviation in the mark price of the LAUSDT perpetual futures from the actual market price, Gate took emergency measures to protect user interests.
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform —users will not bear any negative balance.
Attached is the announcement link for your reference: https://gate.com/announcements/article/45399
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us at @Gate_io via DM. Thank you for your understanding.
Big SCAM from exchange! (I can proof all information!)
On June 4, 2025, Gate.io allowed trading of the $LA perpetual futures contract, during which a massive pricing failure occurred — caused entirely by their own index algorithm. The price was inflated nearly 50x above fair market value due to the inclusion of data from a low-liquidity exchange that was never officially listed as part of the index.
As a result, many users — including myself — experienced forced liquidations based on a price that had no real connection to the actual market. Gate.io publicly acknowledged that this was an internal failure, not market-driven.
However, instead of properly compensating users, the platform tried to sweep the issue under the rug. They quietly patched the error, reset user balances into the negative where needed, and delisted the contract minutes after the incident — erasing all related data and pretending nothing happened. The only reason they didn’t liquidate even more was because you simply can’t take more than what’s in a user’s account.
This was not a market accident — it was a platform failure and a manipulation, whether intentional or due to gross negligence. No other exchange showed similar volume or pricing — the price surge was unique to Gate.io.
Many affected users are now turning to regulators and legal channels. I strongly advise anyone to stay away from Gate.io until they demonstrate real accountability and transparency.
4 June 2025
Reply from Gate.io
Hi there, thank you for taking the time to express your concerns regarding the $LA perpetual futures incident on June 4, 2025. We deeply regret the distress and inconvenience this event has caused to you and other affected users.
Upon identifying the abnormal price fluctuations on the LAUSDT perpetual futures contract, Gate.io acted swiftly to safeguard the interests of our community by implementing the following emergency measures:
1. Immediate suspension and delisting of the LAUSDT perpetual futures contract to stabilize the market environment.
2. Closure of all open futures positions at market price to prevent further adverse impacts on users’ accounts.
3. Full coverage of any negative balances arising from liquidations — ensuring that users were not held financially responsible for these losses.
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us at @Gate_io via DM. Thank you for your understanding.
We appreciate your understanding and continued trust as we strive to provide a secure and reliable trading environment for all users.
A large exchange that is scamming their users
The exchange decided to scam own users and take out the entire deposit that was there, on the LA coin they scammed thousands of users for millions of dollars and do not make compensation, I do not advise you to contact them and keep your funds there, you can loss all your money. I am sure that they will bear responsibility much more than the amount that they scammed users for
5 June 2025
Unprompted review
Reply from Gate.io
We truly understand your concerns and appreciate your honest feedback. Regarding the recent price volatility, we’re genuinely sorry for any inconvenience this may have caused. Due to a significant deviation in the mark price of the LAUSDT perpetual futures from the actual market price, Gate took emergency measures to protect user interests.
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform —users will not bear any negative balance.
Attached is the announcement link for your reference: https://gate.com/announcements/article/45399
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us through X by sending us a DM to @Gate_io. Thank you for your understanding.
scam exchange
there was a listing of the la coin. literally in a couple of seconds it was at 50x and then went down. there was no such price on any exchange. tech support doesn't say anything sensible. managers were told to ignore people and not say anything (the main ones said). the GATE exchange itself did this manipulation. The coin was on the spot of 5 exchanges, and none of them had such a price. In social networks, they block people who mention the la coin, they block them in Telegram and Twitter. they bring bots under the exchange posts
4 June 2025
Unprompted review
Reply from Gate.io
We’re sorry for the stress this incident may have caused and want to assure you that the platform acted swiftly to manage the situation responsibly:
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform — users will not bear any negative balance.
You can find the detailed announcement here: https://gate.com/announcements/article/45399
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us at @Gate_io via DM. Thank you for your understanding.
The exchange does not follow its own rules
Due to problems in the exchange's internal mechanisms, the LA token's listing created conditions under which the price rose and fell chaotically, regardless of trading volume.
The exchange pleaded guilty and deliberately refused to compensate for the losses.
UPD:
The problem is that the Gate exchange is directly to blame for the abnormal value of the markup price and the index price. This was acknowledged and publicly announced by the CBO of the Gate exchange.
This is the danger of using the Gate exchange. It violated its own rules, as the risk control did not work when the price deviated sharply.
This led to massive liquidations of users’ positions, both long and short.
The exchange also chose only two other exchanges to form the index price and marking, and one of them, Kucoin, had such low liquidity that orders for a few thousand dollars caused liquidations on the gate for millions of dollars. And this was also acknowledged by the gate management.
Although at the same time the LA token was traded on the spot of other highly liquid exchanges, which gate usually uses to form the price, but not this time.
Therefore, the gate exchange simply stole users' money, making primitive mistakes in its work.
Be careful!
4 June 2025
Unprompted review
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perptual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perptual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
lost funds due to an indexing failure at Gate
Due to a malfunction in the mechanism of index price formation on the LA/USDT perpetual pair, I incurred a loss of 10,338 USDT. The connection of data from KuCoin, especially at the moment of displaying an abnormally inflated spot price, contradicts the stated methodology of the platform and calls into question its transparency and reliability.
4 June 2025
Unprompted review
Reply from Gate.io
We recognize your frustration and would like to clarify the immediate actions taken by our team during the unexpected price movement on the LAUSDT contract:
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform — users will not bear any negative balance.
You can find the detailed announcement here: https://gate.com/announcements/article/45399
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us at @Gate_io via DM. Thank you for your understanding.
Gate
Gate - scammers , I lost all my money here , they draw price on futures on 50x of price , LA contract, token was 0.6 , after 7 seconds , I was liquidated by price 26$ , position was 300$ , and because of this manipulation , I loss more than 3000$ , after this gate draws negative balances and after this said , we will remove your negative balances , all good , you don’t need to give us more money 😂😂, SCAM
4 June 2025
Unprompted review
Reply from Gate.io
We truly regret the inconvenience you experienced. Upon detecting irregularities in the mark price of the LAUSDT futures, Gate.io executed protective measures without delay:
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform — users will not bear any negative balance.
You can find the detailed announcement here: https://gate.com/announcements/article/45399
Thank you for your understanding as we continue to prioritize platform safety and user interests.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us at @Gate_io via DM. Thank you for your understanding.
Stolen funds
This cryptoexchange stolen my 10k+$ amount 04.06
Never use it for your funds security. They said that was index problem with token price (LA) and continue saying that isn't their fault.
- it's lie, and they confirmed this error in index before but after some time they changed their answer and deleted all posts about refund. No more trust for this scam exchange
4 June 2025
Unprompted review
Reply from Gate.io
Thank you for voicing your concerns — we genuinely empathize with the impact this may have caused. In response to the abnormal price behavior observed in the LAUSDT perpetual futures contract, Gate.io promptly initiated risk-control measures to protect users:
Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
Closed all open futures positions at market price to protect users from further impact.
Any negative balance from the liquidation will be fully covered by the platform — users will not bear any negative balance.
Please refer to our full statement here: https://gate.com/announcements/article/45399
We remain committed to fostering a secure and reliable trading environment for all users.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us at @Gate_io via DM. Thank you for your understanding.
'On June 4
'On June 4, 2025, the Gate.io app allowed trading of a futures contract ($LA) based on a manipulated price index. They included data from a low-liquidity exchange, which caused the price to spike 40 times above the real market value. This led to automatic liquidation of many users’ funds.
Gate.io publicly admitted the abnormal behavior but refused to compensate affected users. This raises serious concerns about user protection and financial safety within the app. I urge Apple to review this app’s practices and investigate if it complies with App Store standards for user trust and financial fairness.'
4 June 2025
Unprompted review
Reply from Gate.io
Hi there, we sincerely apology for the issue and thank you reaching out your concerns regarding the LAUSDT perpetual futures incident. We understand the seriousness of your feedback and sincerely regret the frustration and loss this situation may have caused.
Immediately upon detecting abnormal price movement on the LAUSDT contract, we implemented precautionary measures to minimize further impact:
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation was fully absorbed by the platform — users were not held liable for these losses.
We remain fully committed to user asset safety and platform transparency. Your feedback has been duly noted and shared with our internal teams for further review. If you have additional information you'd like to submit for reevaluation, please feel free to contact our support team or DM us at @Gate_io for further assistance.
Thank you for your understanding.
Token indexing violation
Now Gate proudly states that the price of the $LA token on its exchange is indexed from 5 exchanges: Bitget, Bybit, Coinbase, Gate and Mexc.
But in the first minutes of the listing, the indexation was tied only to Kucoin and Bitget, where the price on Kucoin was 540 times higher than the premarket price. On other exchanges, the price reached a maximum of $5! And no more than a few seconds, and on Gate $27! Are you crazy!? Why did the indexation change only later? So it was still your mistake and you should be responsible for it!
Don't even write me nonsense about returning losses and taking on the losses of the negative balance that you yourself drew! Nonsense that you, like a robot, constantly write. You have lost all respect!
Return the liquidated money to users, otherwise you will forever remain with the reputation of a scam exchange. And don't answer me the same way as the previous people, I'm fed up with your same text, I don't need a link to your article number 45399. We will file complaints and will not leave it like this. Gate Exchange is a scam!
4 June 2025
Unprompted review
Reply from Gate.io
Hi there, we sincerely apology for the issue and thank you reaching out your concerns regarding the LAUSDT perpetual futures incident. We understand the seriousness of your feedback and sincerely regret the frustration and loss this situation may have caused.
Immediately upon detecting abnormal price movement on the LAUSDT contract, we implemented precautionary measures to minimize further impact:
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation was fully absorbed by the platform — users were not held liable for these losses.
We remain fully committed to user asset safety and platform transparency. Your feedback has been duly noted and shared with our internal teams for further review. If you have additional information you'd like to submit for reevaluation, please feel free to contact our support team or DM us at @Gate_io for further assistance.
Thank you for your understanding.
Exchange scammed thousands of people for $18 mil
listing LA/USDT pair two days ago, in a second the price went from $0.5 to unreal $27, making a huge chain of liquidations
No other legit exchange had a price above $4
As of now gate confirms that the issue was on their side, indexing it from tier 3 exchange KuCoin, but refuses to refund any money which is scammy to say at least
4 June 2025
Unprompted review
Reply from Gate.io
We truly understand your concerns and appreciate your honest feedback. Regarding the recent price volatility, we’re genuinely sorry for any inconvenience this may have caused. Due to a significant deviation in the mark price of the LAUSDT perpetual futures from the actual market price, Gate took emergency measures to protect user interests.
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform —users will not bear any negative balance.
Attached is the announcement link for your reference: https://gate.com/announcements/article/45399
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us through X by sending us a DM to @Gate_io. Thank you for your understanding.
LAUSDT perp. scam
Gate_io has stolen funds
While the LA/USDT price was around $0.50 on other CEXes, Gate manipulated it and pumped it to $25. As a result, many traders were liquidated. I saw reports that around $18 million was extracted during the liquidation.
There has been no response from support. No refunds.
4 June 2025
Unprompted review
Reply from Gate.io
We truly understand your concerns and appreciate your honest feedback. Regarding the recent price volatility, we’re genuinely sorry for any inconvenience this may have caused. Due to a significant deviation in the mark price of the LAUSDT perpetual futures from the actual market price, Gate took emergency measures to protect user interests.
1. Suspended and delisted the LAUSDT perpetual futures to maintain market stability.
2. Closed all open futures positions at market price to protect users from further impact.
3. Any negative balance from the liquidation will be fully covered by the platform —users will not bear any negative balance.
Attached is the announcement link for your reference: https://gate.com/announcements/article/45399
Please rest assured, user asset security and trust remain our top priority. While we understand this decision may cause concern, it was made to uphold a fair and secure trading environment for all.
We appreciate your continued support and are here for any further questions or assistance you may reach out to us via X at @Gate_io through DM. Thank you for your understanding.
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perpetual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perpetual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
I LOST ALL MY DEPOSIT due to gate…
I LOST ALL MY DEPOSIT due to gate manipulation with price of token $LA. This exchange pump price from 0.5 to 22 for 1 second and liquidated many users!! Dont use and dont trade there! Save your money!
4 June 2025
Unprompted review
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perpetual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perpetual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
market manipulation
On June 4, 2025, the Gate.io application enabled trading of a $LA futures contract using a distorted price index. The index included input from an illiquid exchange, causing the price to surge over 4,000% above actual market levels. As a result, numerous users experienced automatic liquidation of their positions, suffering major financial losses.
Despite acknowledging the irregularities publicly, Gate.io declined to reimburse affected users. This situation raises serious red flags about financial integrity, user protection, and the overall safety of the platform. I strongly encourage Apple to evaluate whether this app adheres to App Store policies regarding fair financial practices and user trust.
4 June 2025
Unprompted review
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perpetual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perpetual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
Scam
Scam. Your money is not protected, if an anomaly occurs and the exchange admits it, no one will return anything to you, and you will also be to blame for the fact that the exchange failed. This situation happened to me on the La coin, as a result of which I lost all my money, due to the fact that the exchange drew a fake candle 3600%
4 June 2025
Unprompted review
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perptual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perpetual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
Gate used an index price based on…
Gate used an index price based on KuCoin and Bitget for LA token without a real spot market on Gate.
At one point, KuCoin showed a fake pump to $55 with just $1,800 in volume, while Bitget had the price around $1.
Gate took that pumped price into their index, which caused a massive price spike on their futures — and forced liquidations of positions that should’ve been safe. its scam
4 June 2025
Unprompted review
Reply from Gate.io
Hello, we sincerely apologize for the inconvenience caused in this matter. Here is an announcement regarding the handling of LAUSDT Perptual Futures trading market.
Due to the serious deviation of the contract mark price from the normal market price, the platform has taken the following measures to ensure the fairness and security of the trading environment.
1. Suspend trading and take down LAUSDT Perpetual Futures to maintain market stability.
2. All open contracts have been closed at market price. to ensure that users’ rights are not further affected.
3. The negative balance loss from liquidation is fully borne by the platform. Users do not need to bear a negative balance.
Attached is the announcement link for your reference: https://www.gate.com/announcements/article/45399
Gate Always prioritize the security of user assets. Thank you for your understanding and support!
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