Cryptocurrency exchange Gate.io has denied the recent rumors of its platform being breached by hackers circulating on social media. The rumors are coming after the platform’s native token, GateToken hit a new all-time high.
In a recent statement, the exchange calmed fears of a breach after many influential figures started to ask questions. Gate.io’s X account assured users to be calm, revealing that its team of experts has found no abnormalities in its system, and security agencies are yet to discover any issues.
Gate.io clears hack rumors on X as GateToken races to a new high
According to the platform, all services were up and running, as users were still depositing, trading, and withdrawing funds and tokens successfully. In its Post, Gate.io mentioned that it still has 100% reserve funds, above $10 billion. The platform’s Chief Business Officer Kevin Lee discussed the company’s reserve and the strong security infrastructure backing it.
In a live session that Lee hosted, he addressed the issue, citing it as misinformation, and reassuring the community that every action of the exchange is transparent. He noted that in an X Spaces event, he would bring irrefutable proof to counter the rumor. He highlighted the Fear Uncertainty and Doubt the speculations caused, saying the allegations were based on fabricated data. He also hinted that the company has a right to take legal action against the perpetrators.
In his X Spaces event, Lee also discussed the company’s innovation in the crypto sector. He noted that the exchange has distributed over $120 million in airdrops while creating a beneficial ecosystem for users and projects. Meanwhile, Gate.io’s GateToken moved to an all-time high of $13.82, before dropping to $13.07. The token’s year-to-date value is at 179% with its trading volume rising by 80% to $15.44 million in the last 24 hours.
The exchange’s foray into the AI sector
Aside from addressing the rumors, Gate.io revealed its intention to introduce AI trading tools to expand its platform offerings. These specialized AI features including currency selection, and trading robots will enhance the trader experience, according to the platform. The tools will also enable users to make personalized trading strategies, reduce risk, and improve decision-making.
The conversation also trickled into the future of AI and its benefits to crypto users, a topic of interest to most users. Lee discussed the platform’s plan to add technological innovation to community development, advancing encrypted user experience globally. He noted that the platform is looking for ways to ensure its users get the best services through the best services and the use of the greatest technologies.