🚹 Exposing gate io and The Hamster Kombat Pre-Market Scam 13 092024 🚹

Thousands of traders were blindsided in the pre-market sale of Hamster Kombat tokens on Gate. resulting in major losses. Here’s a breakdown of how the platform mishandled the situation, leading to chaos and accusations of market manipulation.

1ïžâƒŁ Misleading Token Supply Information

The official supply for Hamster Kombat tokens, as confirmed by the Hamster Kombat team, was set at 100 billion tokens. This figure was clearly displayed on Gate.io’s pre-market order page, which led users to believe that the token conversion rate would be 1 /1

Without any clarification from the platform, many traders, confident in this 1/1 ratio, began selling off their tokens, only to be hit with a massive price dump as demand plummeted. 📉

Sudden Change in Token Supply

Things took a sharp turn at 12:00 UTC when Gate.io quietly altered the token supply on their order page, without an official announcement or warning. However, it wasn’t until 16 07 12 UTC that the platform formally announced a new conversion ratio of 1/10

This four-hour window between the actual change and the announcement left traders in the dark, causing many to sell their tokens prematurely, resulting in significant financial losses. This miscommunication caused widespread panic in the community.

Insider Trading Allegations

Following the initial price dump, something strange happened: the price began to surge again, without any official communication from Gate.io. This price recovery, alongside the delayed announcement, has led many to suspect insider trading, as it appears certain individuals capitalized on the confusion and the unannounced supply change.

The delayed communication and subsequent price pump raise serious concerns about market manipulation within the platform. Gate.io’s failure to handle this pre-market sale with transparency and care has damaged the trust of its users.

Community in Chaos

The platform’s delayed response has left countless traders questioning Gate.io’s transparency and integrity. Many users lost substantial amounts of money due to the misleading information and poor communication during the pre-sale period.

While the price eventually recovered, this came too late for those who had already sold their tokens at a loss during the confusion.

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