Cryptocurrency exchange Gate announced yesterday, August 9, 2026, the commencement of a special investigation into unusual price fluctuations for perpetual futures contracts $TUT, Lobster, and $BICO. The exchange stated that users whose assets were liquidated due to these fluctuations and who meet the specified conditions will receive full compensation in $USDT.
According to Gate's statement, the investigation concerns unusually sharp price fluctuations in the TUTUSDT, LobsterUSDT, and BICOUSDT perpetual contracts.
Gate will Fully Compensate Users for Losses in $USDT.
Gate stated that it has initiated a special compensation payout procedure to protect user rights in light of the unusual market fluctuations.
Accordingly, users who experience liquidation of the relevant contracts and who meet the compensation criteria set by the exchange will have their allowable losses fully compensated in $USDT.
The platform also announced the creation of a special communication channel for affected users. Users can contact the platform through their VIP managers, online customer service, and other official Gate channels.
Compensation Payments Will be Transferred to Settlement Accounts Within Three Business Days.
Gate.com announced that the plan to implement compensation for relevant users is scheduled within three business days.
It was stated that the compensation amounts will be directly deposited into users' Gate Spot accounts.
After reviewing applications and related account operations, the exchange will determine which users are eligible for compensation based on the established criteria.
Gate to Strengthen Risk Control Measures.
Gate also announced the adoption of new measures within its risk management infrastructure and market supervision following the incident.
The exchange stated it will focus special attention on identifying abnormal transactions, strengthening risk controls in low-liquidity markets, dynamically managing risk parameters, and improving pricing and settlement mechanisms.
Gate emphasized that user rights are one of the platform's core priorities and stated the company will continue to strengthen its risk prevention and market management capabilities to prevent the recurrence of similar incidents.
*This is not investment advice.
end-content
