Gate CBO responds to LAUSDT contract controversy: User profits are fully retained, and the platform bears 100% of the losses

Odaily Planet Daily News In response to the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee released a detailed response on the X platform today, explaining the incident and the platform's response plan. He said that the anomaly was caused by a short-term and violent fluctuation in the market source, and the platform quickly completed trading suspension, notification announcement, and the activation of emergency risk control mechanisms within 15 minutes. According to his explanation, the platform has decided to retain all profitable orders and compensate 100% of the users who have been liquidated, with a total amount of more than 30 million USDT. Kevin emphasized: "This is not only our responsibility, but also a basic commitment to the community." Kevin further clarified that "there was no internal operation in this incident, and there was absolutely no "single-point explosion" or deliberate explosion of users." Gate always adheres to the priority of user and community interests. The current platform has begun to optimize the prevention mechanism and review the qualifications of the contract index with stricter standards to ensure a more stable market operation in the future.