PANews reported on June 5 that in response to the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee issued a detailed response on platform X today, explaining the course of events and the platform's response plan. He stated that this anomaly was triggered by a short-term severe fluctuation in market conditions, and the platform quickly completed trading suspension, notification announcements, and activated emergency risk control measures within 15 minutes.
According to his explanation, the platform has decided to retain all profitable orders and provide 100% compensation to users with liquidations, with the total amount exceeding 30 million USDT. Kevin emphasized, "This is not only our responsibility but also a fundamental commitment to the community."
Kevin further clarified, "This incident had no internal operational actions, and there absolutely does not exist any 'single point liquidation' or intentional actions to liquidate users." Gate always prioritizes the interests of users and the community, and the current platform has begun optimizing preventive mechanisms, reviewing contract index qualifications with stricter standards to ensure more stable market operations in the future.
