Gate opens investigation after abnormal TUT, Lobster and BICO perpetual swings

Gate has launched a special investigation and compensation process after unusual price moves in the TUTUSDT, LobsterUSDT and BICOUSDT perpetual contracts on Aug. 9, saying users liquidated in the affected markets who meet its criteria will be fully compensated in USDT. The exchange said it will review applications and related account activity, aims to complete compensation within three business days, and will transfer approved amounts directly to users' Gate Spot accounts. Gate also created dedicated support channels and said it will strengthen surveillance of abnormal trades, tighten risk controls in low-liquidity markets, dynamically manage risk parameters, and improve pricing and settlement mechanisms. The announcement follows Bitget's earlier response to abnormal mark-price swings in the same contracts, including a separate compensation plan for liquidated short positions based on 15:00 fair-value references and account equity snapshots.

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