GateToken Surges to All-Time High Amid Security Rumors
GateToken, the native cryptocurrency of the Gate.io exchange, has reached a new all-time high despite rumors circulating about a potential security breach on social media platforms.
Token Performance
- The token surged to $13.79 before slightly retreating to $13.29 at the time of reporting.
- It offers benefits such as trading fee discounts, governance participation, and access to token sales within the Gate.io ecosystem.
Hacking Rumors
Following the spike in GateToken’s price, the exchange quickly dismissed the hacking claims.
In a post on December 13, Gate.io confirmed that all services, including deposits, withdrawals, and trading, are fully operational. The exchange’s security team did not detect any abnormalities, and security agencies have not reported any issues. Deposits, withdrawals, and trading are functioning normally, and users are urged not to believe rumors.
Kevin Lee, Gate.io’s Chief Business Officer, reassured users that the platform is secure and backed by reserves exceeding $10 billion. He also announced plans to address the misinformation directly in a live session on X.
Social Media Influence
- Rumors of an exploit on the crypto exchange began circulating on social media, with influencers sharing unverified information.
- Gate.io dismissed the rumors as an attempt to spread fear and promised to provide evidence to counter them.
Platform Statistics
According to CoinMarketCap, Gate.io is among the top 20 crypto exchanges globally. The platform facilitated nearly $7 billion in trading volume in the last 24 hours and listed over 3,100 tokens. With a user base exceeding 19 million, Gate.io holds assets valued at $6.2 billion.
