BlockBeats News, June 5th, regarding the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee today released a detailed response on X platform, explaining the incident and the platform's response plan. He stated that the abnormality was triggered by a short-term intense market fluctuation from the price source, and the platform swiftly took actions such as completing the trade suspension, issuing notifications, and activating emergency risk control mechanisms within 15 minutes.
According to his explanation, the platform has decided to retain all profitable orders and provide 100% compensation to users with liquidation losses, 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, "This incident involved no internal operational misconduct, and there was no 'single-point liquidation' or intentional liquidation of users." Gate has always prioritized user and community interests, and the platform has now begun optimizing its prevention mechanisms, conducting a more rigorous qualification review of the contract index to ensure a more stable operation of the market in the future.
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