Gate.io apologizes, reinvestigates $1.7M hacking claim

Gate.io has announced it will reinvestigate a Chinese user's claim of a $1.7 million hack and has issued a full apology for its initial handling of the matter. The exchange stated that it contacted the user immediately after receiving feedback and is responding in real-time. It added that an internal group has been formed to manage the situation and is assisting the user with efforts to freeze and recover the funds. The issue began when a Chinese user, @jheioff on X, claimed their account was hacked, resulting in a loss of $1.7 million. The user stated that the account, which they use on iOS and Mac, was protected by real-name verification, as well as phone, Google, and email authentication. They asserted that they had not changed their password but received a notification that it had been altered, along with other security settings, and demanded an investigation and compensation from Gate.io. The exchange initially drew criticism for its response, in which it appeared to dismiss the victim's claims and insisted there were no vulnerabilities in its security systems.