So we have a new CEX exit scamming their users – this time it’s Gate.io

By now it should be quite obvious to EVERYBODY that CEX are not your friend. And no, the "convenience" of CEX shouldn't be seen as a positive. It only increases the number of victims.

Guess what. Scams and ponzis work best when they have a perfect story and a super easy UX. That's also why ransomware scams have call centers to guide their victims to fast payment as smooth as possible.

Gate.io claims to be #8 by volume (so there might be plenty of wash trading going on within the exchange). But their sub is full of desperate claims like this for months. This is only an exhibit of today:

Not able to withdraw

https://np.reddit.com/r/GateioExchange/comments/1c617q2/not_able_to_withdraw/

Attention!!! Gate.io will block your money, you will not be able to withdraw!!!!!!!!!

https://np.reddit.com/r/GateioExchange/comments/1c5cid0/attention_gateio_will_block_your_money_you_will/

GATE.IO! PLEASE GIVE ME MY MONEY/COINS BACK

https://np.reddit.com/r/GateioExchange/comments/1c4v5t7/gateio_please_give_me_my_moneycoins_back/

You are the worst exchange ever seen, absolutely useless customer service and multiple attempts at theft coming from you.

https://np.reddit.com/r/GateioExchange/comments/1c4r911/you_are_the_worst_exchange_ever_seen_absolutely/

There are plenty of CEX you shouldn't even think of touching. If you do: Well, you can't say you haven't been warned.

• HTX (scam)
• Poloniex (scam)
• KuCoin
• Binance
• OKX
• Coinex