GateToken, the native crypto of the Gate.io change, has surged to a brand new all-time excessive regardless of rumors a few potential safety breach circulating on social media platforms.
Based on CryptoSlate’s information, the token reached $13.79 earlier than barely retreating to $13.29 on the time of reporting. Because the change’s utility token, it supplies advantages comparable to buying and selling payment reductions, governance participation, and entry to token gross sales inside its ecosystem.
Hacking rumors
In the meantime, this spike adopted the change’s swift dismissal of the hacking claims.
In a Dec. 13 submit, Gate.io confirmed that every one companies, together with deposits, withdrawals, and buying and selling, stay absolutely operational. It acknowledged:
“The Gate.io safety workforce has not detected any abnormalities, nor have any safety businesses reported points. Deposits, withdrawals, and buying and selling are functioning usually. Please don’t imagine rumors!”
Equally, Kevin Lee, Gate.io’s Chief Enterprise Officer, assured customers that the platform is safe and backed by reserves exceeding $10 billion.
Lee revealed plans to host a reside session on X to deal with the misinformation straight. He emphasised that the change has a strong safety framework and maintains transparency in its operations.
The rumors started earlier right this moment when a number of crypto influencers with massive followings on the social media platform X started circulating information of an exploit on the crypto change.
One such account, NaniXBT, admitted to spreading the data with out verifying it. In his submit, he disclosed that the declare was primarily based on unverified enter from an acquaintance and shared impulsively in group chats.
Nonetheless, Lee dismissed the rumor as an try to unfold concern and promised to counter it with proof throughout an X Areas session later right this moment.
Based on CoinMarketCap, Gate.io ranks among the many high 20 crypto exchanges globally. Within the final 24 hours alone, the platform facilitated almost $7 billion in buying and selling quantity and listed over 3,100 tokens. Its person base exceeds 19 million, holding belongings valued at $6.2 billion on the change.
