Cryptocurrency exchange Gate.io has robustly dismissed rumors of a potential hack, reassuring its users of the platform’s security and uninterrupted operations. Highlighting its 100% reserve policy and over $10 billion in assets, Gate.io’s leadership moved swiftly to dispel fears after unusual withdrawal activity sparked alarm on social media.

What Sparked the Panic?

On December 13, speculation erupted on platforms like X (formerly Twitter) and Telegram following reports of significant fund movements on Gate.io. Crypto sleuths pointed to data from Arkham Intelligence, which showed substantial withdrawal activity, hinting at the possibility of a security breach.

The whispers spread quickly, stoking fears among investors already wary of high-profile crypto hacks. Posts urging users to withdraw their funds gained traction, raising questions about Gate.io’s stability.

Gate.io Hits Back

The exchange wasted no time addressing the rumors. In a series of posts on X, Gate.io assured users that the withdrawals were routine and unrelated to any security issues. Kevin Lee, Gate.io’s Chief Technology Officer, stated:

Lee announced plans to host a live session to provide…