Gate Exchange Fails to Deliver on $1.7M Theft Promise

A Gate user who lost $1.7 million in USDT after their account was compromised has waited 40 days for answers from the exchange.

The theft occurred in early July 2026, when the user's fully identity-verified account was drained of nearly 50 ETH, hundreds of thousands of HSK tokens, and over 1.5 million USDT.

Gate initially suggested that the security changes were logged as coming from the user's own actions, but later apologized and committed to a formal reinvestigation, promising 'full cooperation' and 'taking responsibility to the end.'

The exchange placed $3.4 million on-chain for public supervision, with a promise to compensate double any officially determined responsibility.