Gate.io Provides 100% Proof-of-Reserves on User Assets and Reminds Users to Be Careful of Fraud.

Announcements Gate.io Provides 100% Proof-of-Reserves on User Assets and Reminds Users to Be Careful of Fraud.

2022-11-15 10:31:09 UTC 83380 Read

Ensuring the safety of our users' assets has always been Gate.io's first priority. In digital asset trading, asset management is always the biggest concern for users, and the ability of an exchange to truly manage user assets in a fair, transparent and secure manner is always on the top list to consider when users are to trade digital assets. Gate.io has a strong user protection fund, SAFU, to ensure that users endure zero losses from a security incident and to maximize the protection of their assets.

On October 19, 2022 at 00:00 UTC, Armanino, a leading US third-party auditing firm, released a snapshot of Gate.io's asset reserve certification and asset audit, available at https://proof-of-reserves.trustexplorer.io/clients/gate.io

The Proof-of-Reserves was investigated fully by Armanino throughout on-chain verification and audit. Gate.io being rumored to have only 53,930 ETH, is a malicious defamatory action towards Gate.io, our brand, our users, and our integrity. Gate.io was required to provide all wallets to the auditing firm for an on-chain verification during the audit process. One of Gate's verified cold wallets: 0xC882b111A75C0c657fC507C04FbFcD2cC984F071 alone stores at least 140,000 ETH and other tokens valued at over $200 million held by Gate.io. The total amount of all audited ETH held by Gate.io amounts to 269,035, far more than 53,930 rumored. Gate.io hereby reminds all users to always verify your information, and stay away from rumors and scam SMS texts. We will never send users SMS texts with links.

According to the investigation of the relevant US authorities, several well-known platforms were attacked in 2018, but Gate.io's users did not suffer any loss in personal assets during this attack. Gate.io started to provide audited 100% Proof-of-Reserves in 2020, and by 2022, Gate.io has provided two audited Proof-of-Reserves reports. We are the first trading platform to conduct 100% audited Proof-of-Reserves of user assets. At the same time, we have open-sourced the audit method and provided source code on Github. Gate.io welcomes other blockchain platforms and crypto exchanges to utilize this method to co-create a healthy environment in the blockchain industry and operate with trust and integrity.

Gate.io, as the world's first trading platform committed to providing 100% Proof-of-Reserves, works closely with Armanino LLP to provide users with professional and credible asset verification services in open-source, transparent ways of blockchain signature and Merkle Tree. Gate.io's second 100% Proof-of-Reserves audit results are available for all users to view on Armanino's official website.

Gate.io has always been dedicated to exploring new ways to secure user assets to keep up with the pace of the crypto market iteration and has cooperated with Copper, a top provider in the digital asset custody industry, to provide exchange users and custody clients with a more diverse and secure trading experience and custody assurance. After months of collaboration, Gate.io is pleased to announce its official participation in the Copper ClearLoop system, allowing users to securely host their digital assets in Copper and trade on Gate.io without transferring digital assets. More details: https://www.gate.io/article/28659

Thank you to every Gate.io user for your choice and trust.

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Gate.io Team
November 15th, 2022

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