Chinese cryptocurrency exchange Gate.io experienced a delay in the withdrawal of funds on November 2, 2023. The withdrawal of funds from the crypto exchange was temporarily stopped due to technical problems with the platform.
For 6 hours, users of the exchange were unable to withdraw funds from their accounts. The management of the exchange informed clients about the technical difficulties and announced the start of work on their elimination.
As a result, the problem was solved within 6 hours. Users were assured that earlier withdrawal requests would be processed in normal mode; they did not need to be resubmitted. Gate.io apologized for the inconvenience caused by the delay in withdrawals, according to Coincu.
The exchange also said that it intends to issue 100% reserve certificates every month, which will be able to ensure the transparency of transactions. The issuance of certificates will begin as early as November 2023.
According to the exchange's management, the certificates will be able to guarantee transparency and confidence in the safety of users' assets.
At launch, the reserve certificates will include about 100 currencies and then gradually cover up to 1,000 currencies. Users are encouraged to visit Gate.io's 100% reserve landing page and their account's reserve verification page for more information.
Gate.io is committed to providing its users with a wide range of services within its ecosystem. The recent incident of delayed withdrawals due to technical issues has highlighted the importance of quick resolution and eliminating inconvenience to users in order to not lose user trust and ensure smooth operation of the platform.
