The second-tier exchange Gate has recently exploded with a shocking thunder, and it seems to be a sign of becoming the second FTX!

Recently, many fans have reported that they encountered various false reasons to block Gate withdrawals and were unable to withdraw smoothly. In addition, the trading depth of many tokens launched at high prices did not meet the standards, resulting in the inability to trade normally, and users suffered losses.

What is more worrying is that we learned from Gate's big users that Gate officials will withdraw users' assets to other exchanges at high prices to smash the market.

During this process, users cannot trade tokens and are told that their accounts are at risk and need to wait a few days before they can resume normal use. During this period, the price of tokens held by users will fall sharply.

Although Gate will eventually buy back tokens at a low price and return them to users, this behavior is exactly the same as FTX's operation. Once the thunder explodes, user funds will face huge risks.

The recent market is sluggish, and even exchanges are making small moves. Although the new coins launched by Binance recently performed poorly, at least Binance did not have a similar situation. For users, choosing a reliable exchange is more secure for the safety of funds. Users who still have funds in Gate are advised to withdraw as soon as possible to avoid risks!

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