Svmuu News: Gate issued a statement regarding the recent incident involving customer funds, acknowledging that its communication with users in the early stages of the incident was not handled appropriately and that it did not prioritize users’ concerns immediately.Gate’s initial assessment was based entirely on the facts: the applicant provided highly consistent information, including the account email, mobile number, real-name verification details, complete transaction history, and authentic, valid screenshots of Alipay transactions. This information was extremely accurate, and the applicant passed the live verification process.After sending email and SMS notifications, and following a 2-day review period plus a 24-hour withdrawal protection period, the user did not raise any objections. Additionally, the IP address used for the application was located in the same region as the IP addresses from which the account had been recently accessed. Based on cross-verification of multiple pieces of information, Gate concluded at the time that there were grounds for suspicion.
Despite initial communication missteps, Gate has never ceased providing support to the user. Immediately after the incident, a special task force comprising the security, compliance, legal, and business teams was established, and a dedicated support group was set up with the user. To date, we have completed incident reconstruction, device security analysis, and real-time tracking of the funds’ flow, while also assisting the user in filing a police report and providing all necessary documentation.
Additionally, Gate has engaged a team of professional attorneys and mobilized business resources to actively communicate with Tether and relevant exchanges in an effort to freeze the funds involved in the case.
Regarding security mechanisms, Gate reiterates that it has always adhered to a multi-layered protection system, including multi-channel advance notifications, initial system risk control screening, manual four-eyes verification, and strict time-based safeguards. Live verification serves only as a supplementary measure and is not the sole basis for decision-making.The 10.x internal IP addresses appearing in the logs were used by auditors during normal operations.
Furthermore, after a thorough investigation, it has been confirmed that this incident did not involve any platform data breaches or unauthorized actions by former employees; the platform did not previously possess some of the sensitive information provided by the applicant. Security is an ongoing process.Gate will thoroughly review this incident and continue to optimize its processes. Regardless of the final investigation results, Gate will fully cooperate with law enforcement and third-party agencies and do everything possible to help users recover their funds.