Gate probes reported missing funds after July 7 withdrawals, CEO says no system breach

Gate said a customer carried out withdrawal operations between 15:00 and 16:00 UTC+8 on July 7 and reported missing funds at 17:00 UTC+8 on July 8, prompting an urgent investigation. The exchange said its website remains operational and that no system security vulnerability has been found so far. Responding to online claims about a reported "Gate stolen 1.7 million" incident, founder and CEO Dr. Han said the case had already been disclosed and reviewed. Gate said the matter was not a systemic risk or a website security issue, and added that password reset, security removal and withdrawal actions were initiated by the account holder and passed multiple identity checks, including facial recognition. In a full investigation report, Gate said the applicant submitted materials that highly matched the customer’s account and had access to the customer’s identity data, Alipay account, transaction records and device permissions. Gate later said an internal review of customer account 9****6 found the submitted email, phone number, identity information, trading records and Alipay screen recording were highly consistent with the account, with no signs of internal data leakage or abnormal access logs. The exchange said security-item changes are handled through multi-channel notifications, risk controls, manual reviews and a 24-hour withdrawal lock, and that it has traced fund flows, is coordinating on-chain analysis and asset freezing with security, compliance, legal and business teams, and is working with Tether and other third parties on legal and operational freeze procedures.