Gate.io May Have Concealed Asset Theft In 2018 With Four Wallet Assets Are Only $479 Million

In the latest tweet, on-chain expert Lookonchain has mentioned about the transaction between Gate.io and Crypto.com with 320,000 $ETH($405M) transferred.

On-chain expert Lookonchain tweeted today that on-chain detective ZachXBT revealed that on April 21, 2018, the encryption exchange Gate.io may have been stolen by North Korean hackers. Customers should be informed. According to on-chain data, the first transaction in hot wallet occurred on April 21, 2018, indicating that the exchange platform concealed the fact that funds were stolen.

Lookonchain also stated that after analyzing the four Ethereum wallets, it was discovered that only has $479 million in assets. Gate.io owns 71.3651 million GTs and 3139008926439 SHIBs, accounting for 61% of total assets. Gate.io only has 53,930 ETH and 31.98 million USDT, which account for only 21% of total assets. The timing of the 320,000 $ETH transfer was coincidental with the release of the Proof of Reserve Evaluation Report by Gate.io.

Additionally, the tweet also mentioned what CZ said after the FTX event occurred:

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