For those who haven’t read between the lines and ignored the warnings it’s probably already too late. Gate.io (#8 by reported volume) is an ongoing exit scam.

By now it should be quite obvious to anybody in this space, that CEX are not your friend. And no, the “convenience” of CEX shouldn’t be seen as a positive. In many cases easy access only increases the number of victims.

Guess what. Scams and ponzis work best when they have a nice looking UI, a professional marketing team and a well crafted narrative going for them.

Gate.io claims to be #8 by volume (so there might be plenty of wash trading going on within the exchange). But their sub /r/GateioExchange is full of desperate claims for months.

Take care while another big exchange collapses onto their users/victims.