Popular Cryptocurrency Exchange Gate.io Reacts Strongly to Hacking Rumors, Issues Warning Regarding Misinformation

Popular cryptocurrency exchange Gate.io reacted strongly to rumors on social media platforms like X and Telegram concerning a supposed hacking incident

Popular cryptocurrency exchange Gate.io has strongly reacted to rumors circulating on social media platforms like X and Telegram regarding a supposed hacking incident on the platform. Such an incident would send the panic of losing funds or other assets among its users into overdrive.

However, Gate.io has quickly shot down these allegations by confirming that no security breach exists. According to Gate.io’s security team, all is fine and no security agency has raised a red flag. Here is the quote from Gate.io’s X channel:

“The Gate.io security team has not identified anything unusual and no security agency has flagged any issue.”

After some clarifications, the platform confirmed that all services on the platform, including deposits, withdrawals, and trading, are functioning normally. While the online frenzy erupted, the blockchain analytics website DefiLlama noted no large-scale fund transfers from the platform, showing that most users ignored the circulating rumors and stuck with Gate.io.

Apart from the former statement, Gate.io later did another press release against spreading false information. The firm warned that it will no longer be a hub for lies and still retains the right to take legal steps against users who distribute malicious claims without verification. In this respect, Gate.io pointed out that not only does the rumor harm the platform, but also unnecessarily creates unjustifiable panic within its users.

Hence, Gate.io reminded its community to rely on official announcements from the website or other trusted sources in case of updates regarding its operations.

This is not the first time a cryptocurrency exchange has been hit by false news that it has been hacked. Nevertheless, Gate.io’s fast and transparent response had the effect of regaining confidence among users, putting great emphasis on the cryptocurrency sector’s quick response to issues. The exchange appears to be operating normally with no apparent effects from this event.