Gate CBO Responds to LAUSDT Contract Incident: Users Retain Full Profits, Platform Bears 100% of Liquidation Losses
Odaily Planet Daily Reports: In response to the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee today released a detailed response on platform X, explaining the course of events and the platform's countermeasures. He stated that the anomaly was triggered by a sudden and severe fluctuation in market sources. The platform quickly implemented measures within 15 minutes, including suspending trading, issuing notifications, and activating emergency risk control mechanisms. According to his explanation, the platform has decided to retain all profitable orders and provide 100% compensation to users who faced liquidation, with a 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, "There were no internal operational behaviors in this incident, nor were there any instances of 'single-point liquidation' or intentional liquidation of users." Gate consistently prioritizes the interests of users and the community, and the platform is currently working to optimize preventive mechanisms and review the qualifications of contract indices with stricter standards to ensure more stable market operations in the future.
