Gate CBO responds to the LAUSDT contract turmoil: the user's profit is fully retained, and the platform bears 100% of the loss of the position

PANews reported on June 5 that in response to the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee released a detailed response on platform X today, explaining the incident and the platform's response plan. He said that the anomaly was caused by short-term violent fluctuations in the market source, and the platform quickly completed measures such as trading suspension, notification and announcement, and activation of emergency risk control mechanism within 15 minutes.

According to its explanation, the platform has decided to keep all profitable orders and compensate 100% of the users who wear their positions, with a total amount of more than 30 million USDT. "This is not only our responsibility, but also a fundamental commitment to the community," Kevin emphasized. ”

Kevin further clarified that "there was no internal operation in this incident, and there was no "single point of liquidation" or deliberate user explosion. Gate has always prioritized the interests of users and the community, and the platform has begun to optimize the prevention mechanism and review the qualifications of contract indices with stricter standards to ensure that the market will operate more stably in the future.

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