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.
In keeping with CryptoSlate’s knowledge, the token reached $13.79 earlier than barely retreating to $13.29 on the time of reporting. Because the change’s utility token, it offers advantages resembling 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 put up, Gate.io confirmed that each one providers, 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 companies reported points. Deposits, withdrawals, and buying and selling are functioning usually. Please don’t consider 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 dwell session on X to deal with the misinformation straight. He emphasised that the change has a sturdy safety framework and maintains transparency in its operations.
The rumors started earlier right now when a number of crypto influencers with giant 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 put up, 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 now.
In keeping with CoinMarketCap, Gate.io ranks among the many prime 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 consumer base exceeds 19 million, holding property valued at $6.2 billion on the change.
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