Gate tokenThe native crypto exchange Gate.io has reached an all-time high despite rumors of a potential security breach circulating on social media platforms.
according to CryptoSlate's data, the token reached $13.79 and was down slightly to $13.29 at the time of reporting. As the utility token of the exchange, it offers benefits such as discounts on transaction fees, governance participation, and access to token sales within its ecosystem.
Hack rumors
Meanwhile, the increase followed the exchange's swift denial of hacking claims.
In a post on December 13, Gate.io confirmed that all services, including deposits, withdrawals and transactions, are fully operational. it expressed:
Gate.io's security team has not detected any anomalies and no security organizations have reported any issues. Deposits, withdrawals, and transactions work normally. Please don't believe the rumors!”
Similarly, Kevin Lee, Gate.io's chief business officer, made sure Users that this platform is secure and backed by a reserve of more than 10 billion dollars.
Lee revealed plans to host a live session on X to directly address the misinformation. He emphasized that the exchange has a strong security framework and maintains transparency in its operations.
The rumors started earlier today when several crypto influencers with large followings on social media platform X started spreading news of abuse at the crypto exchange.
One such account, NaniXBT, admitted To publish information without verifying it. In his post, he revealed that the claim was based on unconfirmed information from an acquaintance and was impulsively shared in group chats.
However, Lee dismissed the rumor as an attempt to spread fear and promised to counter it with evidence at the X Spaces meeting later today.
according to CoinMarketCap, Gate.io It is among the top 20 digital currency exchanges in the world. In the last 24 hours alone, the platform facilitated nearly $7 billion in trading volume and listed more than 3,100 tokens. It has a user base of over 19 million and $6.2 billion worth of assets held on the exchange.
