At approximately 07:10 (UTC) on August 9, 2026, the prices of TUT (TUTUSDT), 龙虾 (龙虾USDT), and BICO (BICOUSDT) Perpetual Futures experienced significant volatility across multiple platforms, accompanied by substantial on-chain capital movements. The platform promptly detected this extreme market event and launched a high-priority, in-depth investigation into the suspicious transactions involved, while implementing enhanced risk controls.
To uphold fairness in market trading and protect users' legitimate interests, the platform will provide full compensation in USDT to users who were liquidated during this extreme market event.
Gate has established a dedicated channel to handle this incident. Affected users are requested to contact Gate through official channels as soon as possible, including but not limited to their VIP account managers and online customer support. The compensation process is now underway, and we will assist eligible users with the compensation process within three business days to ensure that the applicable USDT compensation is credited to their accounts in a timely manner.
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) = Total liquidation losses incurred by affected users in the above markets during the corresponding calculation period.
Subsequent risk control and market governance measures:
- Improve the accuracy of abnormal trading behavior detection, monitor abnormal on-chain capital flows and market price fluctuations in real time, and implement proactive risk alerts.
- Establish a tiered management system for trading pairs and apply stricter risk control parameters to trading pairs with low liquidity and small market capitalization.
- Implement dynamic risk parameter management, adjusting market monitoring parameters in response to market changes to reduce missed and false alerts.
- Strengthen the robustness of pricing and settlement mechanisms, improve the mechanisms for determining index and mark prices, and mitigate the impact of extreme market volatility.
- Improve information disclosure and communication mechanisms, and promptly publish risk alerts on trading pages to inform users of relevant project and market risks.
Additionally, the platform has established a dedicated channel for reporting suspected abnormal trading activity at support@gate.com. Users are encouraged to report any suspicious activity detected during trading as soon as possible. The platform will assign dedicated personnel to investigate the reported activity and provide updates on the investigation results. Users who provide valid information may receive corresponding rewards from the platform.
A fair and transparent market requires the collective efforts of all participants. We sincerely welcome users to share their feedback and provide oversight regarding our risk control measures, product rules, and handling of related matters. We will continue to listen and respond to community concerns with greater openness and transparency. We believe that only through the joint efforts of the platform and our users can we build a healthy, deep, and resilient market for the long term.
Gate Team
August 10, 2026
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