Is Gate.io exchange legit? - page 3.

gon

sr. member

Activity: 460

Merit: 251

Gate.io is a small exchange, but is useful for some small alts like Lympo (LYM), listed there and at IDEX with some volume.

I don't have a single problem there for few months.

wayaneka

full member

Activity: 644

Merit: 101

I used this exchange and so far i dont have any problem. Deposit, trading and withdrawal processing running smothly, indeed gate.io from Bter.com and they change the name and the office cause Chinese goverment ban cryptocurrency exchange, this is the same situation like exchange of Huobi changed the name to Huobi.pro.

airy01

newbie

Activity: 24

Merit: 0

i thinka is legimate

Dean1306

newbie

Activity: 4

Merit: 0

Gate.io is a newly-launched crypto-exchange, their website is available in English and Chinese, which means platform is registered in US, but run by Chinese from abroad. Their automated "support" replies are in Chinese and broken English. The company operating the Gate.io brand and website is based in Virginia, but is not overseen by the local financial watchdogs, nor holding a NY Bitlicense, which is quite controversial. You should keep in mind that when dealing with unregulated companies, you are exposed to a large risk, which is the case with Gate.io. They only offer one wallet for all their customers with tag distinguishing each client, highly risky practice that enables them to keep/steal coins that are not assigned to particular customer. Once your coins are "lost" in their communal wallet, it is practically impossible to get them back. This is unregulated platform, and their is no leverage trading with overwhelming negative reviews of scamming people on all websites. Their ratings are extremely low with only about 10 thousand downloads of their app on Google Playstore. If you try to contact them to recover your coins, their "support" will delay their replies, lie to you and eventually ignore your emails. Recently I have witnessed an issue friends of mine had trying to recover unassigned funds or get a refund and basically Gate.io has been giving them false information and promises week after week, hoping they will just go away. When making a complaint on their Twitter and Telegraph account messenger, first the "support" agent tried to request deposit of few ETH coins to "validate" account and once that was refused they were immediately blocked from chat room. Now they are in the process setting their own chat rooms for people who have already been defrauded by Gate.io as well as reporting it to US Commodities Futures Trading Commission and FBI.
This exchange is basically one of those geeks developing websites to scam people during a digital gold rush and I cant wait for the corporate world to step in holding hands of world governments to regulate and replace all these crooks. If these small time thugs operated with trust, it would be very difficult for the large corporations to come in and replace them. But they're thinking make a quick buck now and get out instead of stay for the long haul. Gate.io is nothing else but a half baked scam operation, providing truly bad service for most customers and stealing from the rest if they can get away with it. Their extremely poor ratings on all major review sites speaks enough about all the bad experiences so many people have to go through and those positive reviews are mostly fake they post themselves or through one of those Chinese "click farms" that offer services of posting fake ratings.

Apekool

member

Activity: 126

Merit: 13

The internet > you

I'm betting that 0.000321 ETH is Gate.io's favorite number.

Apekool

member

Activity: 126

Merit: 13

The internet > you

Here's a wallet address that is involved in QSP trading and systematically issues +/- 69.99 ETH withdrawals from several Binance and a KuCoin wallets.

The wallet transfers all ETH to the Gate.io exchange (0x05ee546c1a62f90d7acbffd6d846c9c54c7cf94c)

A 69.99 withdrawal has just been made, Tx:
https://etherscan.io/tx/0xf794b45cc7ad4438b49059cfbcf39e457d7f800f109c9b50d3b66db4d472c123

Not long from now this will move to I guess to the following address: 0x05ee546c1a62f90d7acbffd6d846c9c54c7cf94c

edit: here it is --> https://etherscan.io/tx/0xc9fb0d7ca76d0a3721c7f44dfd0a768cdd21b8d317e74ad8aece491aa973cffd

wtf?

mapanlah

member

Activity: 228

Merit: 10

if seen from the volume of all altcoin and bitcoin in the market I think still can not be called a legit market.

Apekool

member

Activity: 126

Merit: 13

The internet > you

And why do tokens flow back to Binance by the same pattern?

https://etherscan.io/token/Quantstamp?a=0x6fe1d5ae5ea6ba334bd4c1cc2dd8b6695314d82d

No way this is a genuine withdrawal

This just moved out of Gate.io again:

https://etherscan.io/tx/0xb50bb788d6bcf793182382d59e110c7ddb3cc9b666b11d85f2c5fc7de5b8aa5a

in a moment I will edit this post to add the Tx from that wallet to Binance, as soon as it appears in the blockchain.

edit: here it is --> https://etherscan.io/tx/0x5889f1bb209c3ad21d3a16b4c3c09ace4046c8537e007c1f2780ef257dc9f929

Apekool

member

Activity: 126

Merit: 13

The internet > you

Notice that the latest incoming QSP transaction at Gate.io just made it's time-frame of 11-12 hours.

Gate.io QSP transactions:
https://etherscan.io/token/Quantstamp?a=0x05ee546c1a62f90d7acbffd6d846c9c54c7cf94c

deposit on Gate.io made by:
https://etherscan.io/token/Quantstamp?a=0x6ca4887f22f38a78228b74bac2d4f87f89c36a67
tx:
https://etherscan.io/tx/0x6cd5d0984a9dc1bbc1bb95204ffd7d2b2414edeab7b434b371ff26955217d0be

retraces to a withdrawal made on Binance:
https://etherscan.io/token/Quantstamp?a=0x564286362092d8e7936f0549571a803b203aaced
tx:
https://etherscan.io/tx/0x3337381566315f473a82a300460696725cf3412e2e0f5dc18e183281bb35458f

Coincidence right...

I'll bet you see another in about 11-12 hours from now (if the bot doesn't read this).

Apekool

member

Activity: 126

Merit: 13

The internet > you

Brambam

newbie

Activity: 34

Merit: 0

It looks like ok to me. But based on some comments on here I guess it still needs to developed.
I will not use them yet.

serkhio

member

Activity: 154

Merit: 10

Sure, there are many altcoins trade there. Why bro ask this question? Meet some unpleasant experience? The daily use of Gate.io seems OK for me.

Edrian

full member

Activity: 280

Merit: 100

Quote from: Weider on December 28, 2017, 05:01:25 PM

Hi guys. Do you have any experience with this exchange? Is it legit? Thank you.

I used it one time without knowing that the price for the exchange was too high, I can confirm It was Legit but lots of negative feedback was commented on some thread one of them said that it doesn't have proper customer support some people who put their coins is having a hard time to communicate with the customer service representative, another one said that the transaction was taken a long period of time, maybe because it was new on the market.

But if I were you, I will stick to the known and trusted trading platform.

Apekool

member

Activity: 126

Merit: 13

The internet > you

The annoying thing is it could as well be normal people..

Apekool

member

Activity: 126

Merit: 13

The internet > you

Located over 2 million QSP tokens stored in "offshore" accounts (in between exchanges) that retrace to the trading bot of Gate.io. The deposits are made by intermediate wallets that can be retraced to both Binance and KuCoin (and eventually Gate.io if one looks further).

Tried to notify Binance by all possible channels that Binance user accounts are being misused this way. Even send out an email to Binance Angels, calling for an angel. No response of anyone whatsoever. If no response is received within 12 hours I will open a separate topic and post all the involved Ethereum wallet addresses there, which exposes the direct relation of the Binance wallet to the trading bot that is at the center of the price manipulation scheme at Gate.io

Fine with me

edit: lol the support ticket I made on Binance auto closed: https://support.binance.com/hc/requests/638013

Apekool

member

Activity: 126

Merit: 13

The internet > you

rofl their website

Quote

We are a licensed digital asset exchange and custodian built for both individuals and institutions. We are a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). Gemini is a fiduciary and subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the NYSDFS and the New York Banking Law.

Time to spam Uncle Sam.

Apekool

member

Activity: 126

Merit: 13

The internet > you

Got sh*t reply from Binance.

Traced several amounts and they end up at something called Gemini in the comments, and there I'm not sure what is happening. Funds seems to circulate between wallets, but each time the amount is different. It doesn't leave that circle however. I have the addresses and the hashes. Anyone familiar with Gemini?

one trace was on [removed amount] ETH that left Binance scattered in smaller portions, that were later merged and then moved into that Gemini thing..

Apekool

member

Activity: 126

Merit: 13

The internet > you

Located many more wallet addresses involved. Addressed this to Binance in an ongoing support ticket filed previously about withdrawal issues. Ticket got closed after the withdrawal issue was solved.

Quote

Hello,

Thank you for contacting customer support.

We are closing this ticket because we believe you no longer need attention for this issue.

Please let us know if you do have any further questions or issues related to this or anything else with our service.

Thank you for your continued patronage.

A misunderstanding probably(?). Filing a separate one for this QSP thing. Will update later.

Hope the tokens will not have been moved by then. The tokens are currently accumulating in several ether wallets. It becomes more difficult to track in time however. Just one account holds almost half a million tokens, to give an impression of the volume. The rate by which the tokens are accumulating implies that this is going on longer than the timespawn previously posted. The scale and 24/7 presence implies more than one individual being involved, and/or an automatic mechanism / bot providing support.

edit: filed a ticket @ QSP website as well (<1 day)

Apekool

member

Activity: 126

Merit: 13

The internet > you

Is there any useful tool to dig in the Ethereum blockchain / transaction history?

Besides doing that manually Tongue

choychifung

member

Activity: 98

Merit: 10

go delete Gate.io now.

Topic: Is Gate.io exchange legit? - page 3. (Read 1380 times)