Gate denies information about the hack and urges not to believe rumors

Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13

13.12.2024 - 12:25

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3 min

What’s new? The team of the leading centralized crypto exchange (CEX) Gate has denied the hacking rumors. The official X-account emphasizes that internal security has not detected any suspicious activity, nor has it been reported by external IS companies.

Source: X.com

What else is known? The company assured that depositing, withdrawals, and trading are carried out as usual, and the platform maintains a $10 billion reserve fund that fully covers the value of user assets. “Please do not believe rumors!” Gate concluded.

Rumors about the alleged Gate hack began circulating on December 13 in X and themed chats in Telegram, with the authors calling for assets to be withdrawn from the exchange. Notably, these messages were not accompanied by more details about the attack.

Among others, information about the Gate hack and the call to withdraw funds, citing anonymous sources, was published by Aggr News journalists.

Source: X.com

The exchange’s assets declined marginally over the past 24 hours, from $5,728 billion to $5,674 billion, according to Dune. The record high was set on December 9, at $6,013 billion.

Gate is one of the largest CEXs. In November, its spot trading volume rose by 193,1% to more than $161,308 billion. Trading volume on the derivatives market also increased by 77,5% to $127,578 billion.

At the same time, the number of visits to the exchange’s website decreased by 6% over the month, which was the worst result among the leading centralized platforms. It was visited by 15,3 million users, the main traffic came from Turkey (12%), Brazil, (12%), and India (7%).

The exchange’s native token GT ranks 87th in the overall ranking of cryptocurrencies by market capitalization with a value of $1,645 billion. Amid reports of a hack, it lost 6% and fell to $12,01, but then began to grow and reached $13,79, updating its historic high set in May 2021.

By now, the rate has fallen to $13,08. GT is up 41% for the month and 157% since the beginning of the year.

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