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{"actor":"system:backfill","investigation_id":"8cb38982-caca-4f41-81b3-f93e7d056a99","kind":"publish","page_slug":"gate","published_at":"2026-05-26T15:34:15.738Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Gate.io","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.panewslab.com/en/articles/2j0o0bhr","type":"other","url":""},{"credibility":3,"name":"https://iq.wiki/wiki/lin-han","type":"other","url":""},{"credibility":3,"name":"https://www.datawallet.com/crypto/gate-io-countries","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptoslate.com/zachxbt-calls-out-gate-io-for-keeping-2018-hack-under-wraps/","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/north-korean-hackers-move-3-2m-from-gate-io-2018-hack/","type":"other","url":""},{"credibility":3,"name":"https://www.investing.com/news/cryptocurrency-news/zachxbt-slams-gateio-for-not-disclosing-2018-hack-behind-230m-loss-2945842","type":"other","url":""},{"credibility":3,"name":"https://tokeninsight.com/en/news/gate.io-hacked-for-230m-in-april-2018-without-disclosure-says-zachxbt","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.net/news/security/16224909/","type":"other","url":""},{"credibility":3,"name":"https://www.coinlive.com/news-flash/7089","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.datawallet.com/crypto/is-gate-io-a-safe-legit-exchange","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/zachxbt-calls-out-gate-io-for-keeping-2018-hack-under-wraps/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.chaincatcher.com/en/article/2185419","type":"other","url":""},{"credibility":3,"name":"https://www.okx.com/en-us/news/article/la-contract-pin-insertion-turmoil-gate-io-data-source-abnormal-liquidation-user-can-only-bear-loss-46576002446368","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/magazine/la-gate-liquidation-fiasco-sec-crypto-influencers-asia-express/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://99bitcoins.com/news/gate-io-banned-in-india-users-unable-to-access-funds/","type":"other","url":""},{"credibility":3,"name":"https://www.cryptotimes.io/2024/06/14/4-offshore-crypto-exchanges-apply-to-return-india-post-ban/","type":"other","url":""},{"credibility":3,"name":"https://inc42.com/buzz/fiu-to-hear-pleas-of-seven-banned-crypto-platforms-to-restart-india-ops/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.theblock.co/post/266222/gateio-trading-spike-quant-strategies","type":"other","url":""},{"credibility":3,"name":"https://www.trustpilot.com/review/gate.io","type":"other","url":""},{"credibility":3,"name":"https://www.cybercriminal.com/132778/gate-io-trading-concerns","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://news.bitcoin.com/5-privacy-coins-face-delisting-on-gate-io-exchange/","type":"other","url":""},{"credibility":3,"name":"https://castlecrypto.gg/gate-io-review/","type":"other","url":""},{"credibility":3,"name":"https://www.datawallet.com/crypto/gate-io-countries","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.trustpilot.com/review/gate.io","type":"other","url":""},{"credibility":3,"name":"https://www.sikayetvar.com/en/gateio-us","type":"other","url":""},{"credibility":3,"name":"https://www.cybercriminal.com/132819/gate-io-account-locking-review","type":"other","url":""},{"credibility":3,"name":"https://www.cybercriminal.com/132778/gate-io-trading-concerns","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.globenewswire.com/news-release/2024/01/22/2813210/0/en/Gate-io-s-Proof-of-Reserves-Implementation-Passes-Hacken-s-Security-Audit.html","type":"other","url":""},{"credibility":3,"name":"https://hacken.io/case-studies/gateio-proof-of-reserves/","type":"other","url":""},{"credibility":3,"name":"https://www.coinlive.com/news-flash/7089","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptoslate.com/north-korean-hackers-move-3-2m-from-gate-io-2018-hack/","type":"other","url":""},{"credibility":3,"name":"https://www.databreaches.net/north-korean-hackers-move-3-2m-from-gate-io-2018-hack/","type":"other","url":""},{"credibility":3,"name":"https://www.chaincatcher.com/en/article/2082844","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/markets/2023/12/01/north-korean-hackers-lazarus-group-stolen-3b-in-cryptocurrency","type":"other","url":""}]}],"sources_used":[],"summary":"Gate.io (formerly Bter.com) is a centralized cryptocurrency exchange founded in 2013 by Han Lin, serving over 30 million users across 224 countries. The exchange has been flagged by on-chain investigator ZachXBT for allegedly concealing a $230 million hack attributed to North Korean state-sponsored hackers (Lazarus Group) that occurred in April 2018 and was never publicly disclosed to users. Additional concerns include a manipulated futures price feed incident causing millions in user losses in 2025, an AML-based ban by India's Financial Intelligence Unit in 2024, persistent user complaints about frozen withdrawals, and alleged wash trading activity inflating reported volumes.","timeline":[{"date":"2013-04-01","event":"Han Lin founds Bter.com cryptocurrency exchange in China","source":""},{"date":"2015-02-01","event":"Bter.com hacked for 7,170 BTC (approximately $1.75 million) from cold wallets; breach details never publicly disclosed","source":""},{"date":"2017-01-01","event":"Exchange rebrands from Bter.com to Gate.io and relocates to the Cayman Islands following Chinese regulatory pressure","source":""},{"date":"2018-04-18","event":"Gate.io allegedly hacked for approximately $234 million (10,778 BTC, 218,790 ETH, and other assets); attributed by on-chain investigators to North Korea's Lazarus Group; breach never publicly disclosed to users","source":""},{"date":"2022-08-01","event":"U.S. Treasury sanctions Tornado Cash; Gate.io begins delisting privacy coin perpetual contracts in response to AML regulatory pressure","source":""},{"date":"2023-02-01","event":"ZachXBT publishes on-chain investigation revealing Gate.io's alleged concealment of the 2018 hack; North Korean hackers move 1,944.72 ETH ($3.2 million) from dormant 2018 theft address","source":""},{"date":"2023-12-01","event":"Gate.io daily volume spikes to $4 billion; RATS token community accuses exchange of wash trading and fake volume manipulation","source":""},{"date":"2023-12-28","event":"India's Financial Intelligence Unit issues compliance show-cause notice to Gate.io and eight other offshore exchanges for PMLA violations","source":""},{"date":"2024-01-10","event":"Apple App Store in India blocks Gate.io following FIU noncompliance order; Google Play Store removal follows within days","source":""},{"date":"2024-01-22","event":"Hacken publishes Proof of Reserves audit for Gate.io; reports 115.47% reserve ratio across 170+ currencies","source":""},{"date":"2024-12-10","event":"Indian government formally blocks Gate.io website; users unable to access funds","source":""},{"date":"2024-12-25","event":"Gate.io delists Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), and Verge (XVG) perpetual contracts citing regulatory scrutiny of privacy coins","source":""},{"date":"2025-06-04","event":"Gate.io launches $LA perpetual futures using a price index that incorporated an illiquid KuCoin market; price spikes 4,000% from approximately $0.60 to $25; mass user liquidations occur; thousands allege fraud; Gate.io offers 30 million USDT compensation only for negative-balance accounts, not liquidated users","source":""}]},"v":1}