At approximately 07:10 (UTC) on August 9, 2026, the market prices for TUT (TUTUSDT), 龙虾 (龙虾USDT), and BICO (BICOUSDT) Perpetual Futures experienced severe volatility across multiple platforms, accompanied by significant on-chain capital movements. The platform promptly detected this extreme market event and initiated a specialized in-depth investigation and risk control for suspicious transactions with the highest priority.
To uphold fairness and justice in market trading and protect the legitimate rights and interests of users, the platform will provide full USDT compensation to clients who were liquidated during this extreme market event.
Gate has established a dedicated processing channel for this incident. Affected clients are requested to contact the official channels (including but not limited to VIP client managers/online customer support and other official channels) as soon as possible. The compensation process has officially commenced, and we will assist you in implementing the compensation plan within three working days, ensuring timely issuance of USDT compensation amounts to your account.
The specific compensation plan is as follows:
I. Calculation period for affected users:
TUT (TUTUSDT): August 9, 2026, 07:10:00 – 07:14:00 (UTC)
龙虾 (龙虾 USDT): August 9, 2026, 07:12:00 – 07:16:00 (UTC)
BICO (BICOUSDT): August 9, 2026, 07:12:00 – 07:16:00 (UTC)
II. Compensation scope:
Compensation amount (USDT) = All losses incurred by affected users due to liquidation within the corresponding calculation period in the above markets.
Subsequent risk control and market governance measures:
- Enhance the precision of abnormal trading behavior identification, conduct real-time detection of abnormal on-chain capital flows and market price fluctuations, and implement proactive risk control alerts.
- Establish a layered management system for trading pairs, applying stricter risk control management parameters for low liquidity and small market capitalization markets.
- Promote dynamic management of risk parameters, dynamically adjust market monitoring parameters in response to market changes, and prevent missed or false alerts.
- Strengthen the robustness of pricing and settlement mechanisms, improve the discovery mechanisms for index prices and mark prices, and reduce the impact of extreme volatility.
- Improve information disclosure and communication mechanisms, promptly publish reminder notifications on trading pages to inform users about project and market risks.
Additionally, the platform has opened a feedback channel for abnormal trading clues at support@gate.com. Users are encouraged to promptly submit clues when suspicious behavior is detected during trading. The platform will assign dedicated personnel to investigate and provide feedback on the processing results. Users who provide valid clues will receive corresponding incentives from the platform.
A fair and transparent market order requires the joint maintenance of every participant. The platform sincerely welcomes users to provide opinions and supervision regarding our risk control measures, product rules, and handling results, and will continue to respond to community concerns with a more open attitude. We believe that only through the joint efforts of the platform and users can the market maintain long-term health, depth, and resilience.
Gate Team
August 10, 2026
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