Recently, a YouTube cryptocurrency influencer took to Twitter to reveal how a cryptocurrency exchange called Gate.io is holding over $200,000 in funds, and we think it’s important for everyone to see and know.
Cryptocurrency influencers play an essential role in the growth of the cryptocurrency industry. We’ve heard horror stories about how influencers dump shitcoins on their followers. This time it’s a different story.
Before I summarize MMCrypto’s story and implications, please watch the entire video (under 5 minutes) to get the full picture.
What’s going on between MMCrypto and Gate.io?
Below is MMCrypto’s message from his Twitter account:
@gate_io The exchange refused to pay me even though I have over $200,000 in assets. I have all the evidence (in the chain) and support conversations as proof. I warned you several times before writing this to make it public.
I always post positive things, but that’s enough.
I deposited $ORDI to Gate about 6 months ago, but it hasn’t been deposited. Finally they texted me saying I wouldn’t get my money back after a long trial. I am willing to disclose and disclose everything about chain proofs and discussions to prevent others from being harmed in the future.
Never gate again!
Gate.io’s answer
The Gate.io team responded on Twitter, stating that the issues faced by MMCrypto were due to invalid transactions. They also walked him through the details of the problem and asked him to verify the same on the blockchain.
You can read the full thread between Gate.io and MMCrypto by clicking the Twitter thread link below.
The Gate.io team also showed empathy and willingness to provide support to MMCrypto to recover his funds. They say, “Your funds are still available and have not been lost. We are always available to provide technical support and are happy to help you make the right transition.”
What do you think about CoinSutra?
Since cryptocurrencies are technical in nature, these issues can always arise. The important thing is to have open communication, and this is exactly what is happening now.
MMCrypto doesn’t seem to be happy that Gate.io isn’t helping resolve the situation. At the same time, Gate.io’s quick response to this situation and publicly offering help shows their commitment to doing the right thing.
MMCrypto also pointed out the importance of ownership and that it is important to keep only the funds you need for trading or other purposes on a cryptocurrency exchange. If you want to store your funds for the long term, we recommend storing them in a hardware wallet or a personal wallet such as Trust Wallet or Metamask Wallet.
He also pointed out that since he is fortunate to have a platform to share these concerns, he is worried that he will never hear about these issues faced by other retail users. So, with that intent in mind, I really appreciate how MMCrypto raised this issue.
We will update this story as we have more updates. For now, I’d like to see MMCrypto restore the cryptocurrency and see a happy ending to this feud.
Read more: How to protect your cryptocurrency from hackers
Have you ever lost your cryptocurrency due to transfer issues? Did the exchange help you recover? I’d love to hear your story in the comments section below.
About Harsh Agrawal:
Award-winning blogger with over 14 years of experience. He has a background in finance and technology and holds professional certification in information technology.
He is an international speaker and author who believes in the blockchain and cryptocurrency world.
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expertise:
Harsh has over 12 years of experience in fintech and 7 years of experience in blockchain and Bitcoin. He has also moderated blockchain expert panels and attended international blockchain events such as BTCMiami and Token2049.
