Gate.io responded: The total storage of ETH is 269,035 ETH, and the rumor that Gate.io only has 470 million dollars is false

2022-11-15 19:07:49

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ChainCatcher news, cryptocurrency exchange Gate.io issued a statement in response to the previous claim that "the assets of the four wallets currently amount to only $479 million," stating that Gate.io's asset reserve verification is fully handled by Armanino for on-chain verification and auditing. The rumor that Gate.io only has 53,930 ETH is false information.

During the auditing process, Gate.io provided all addresses to the auditing company for on-chain verification. For example, one of the addresses held by Gate.io, 0xC882b111A75C0c657fC507C04FbFcD2cC984F071, stores 140,000 ETH, along with $200 million in tokens, bringing the total audited ETH amount to 269,035 ETH, not the 53,930 ETH rumored online.

Regarding the hacking news, Gate.io stated that according to investigations by relevant U.S. authorities, several well-known platforms were hacked in 2018, but Gate.io users did not suffer any losses in this attack. The exchange has been conducting 100% margin audits since 2020, and by 2022, it was the second time conducting user asset audits, making it one of the earliest trading platforms to perform 100% margin audits on user assets, while also open-sourcing the auditing methods and source code on GitHub. (source link)

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