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February 21, 2018, 08:00:23 PM |
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Gate.io is a newly-launched fraudulent crypto-exchange, by same people who run bter.com, their website is available in English and Chinese, which means platform is registered in US, but run by Chinese from abroad. Their automated "support" replies are in Chinese and broken English. The company operating the Gate.io brand and website is based in Virginia, but is not overseen by the local financial watchdogs, nor holding a NY Bitlicense, which is quite controversial. You should keep in mind that when dealing with unregulated companies, you are exposed to a large risk, which is the case with Gate.io. They only offer one wallet for all their customers with tag distinguishing each client, highly risky practice that enables them to keep/steal coins that are not assigned to particular customer. Once your coins are "lost" in their communal wallet, it is practically impossible to get them back. This is unregulated platform, and their is no leverage trading with overwhelming negative reviews of scamming people on all websites. Their ratings are extremely low with only about 10 thousand downloads of their app on Google Playstore. If you try to contact them to recover your coins, their "support" will delay their replies, lie to you and eventually ignore your emails. Recently I have witnessed an issue friends of mine had trying to recover unassigned funds or get a refund and basically Gate.io has been giving them false information and promises week after week, hoping they will just go away. When making a complaint on their Twitter and Telegraph account messenger, first the "support" agent tried to request deposit of few ETH coins to "validate" account and once that was refused they were immediately blocked from chat room. Now they are in the process setting their own chat rooms for people who have already been defrauded by Gate.io as well as reporting it to US Commodities Futures Trading Commission and FBI. This exchange is basically one of those geeks developing websites to scam people during a digital gold rush and I cant wait for the corporate world to step in together with governments to regulate and replace all these crooks. If these small time thugs operated with trust, it would be very difficult for the large corporations to come in and replace them. But they're thinking make a quick buck now and get out instead of stay for the long haul. Gate.io is nothing else but a half baked scam operation, providing truly bad service for most customers and stealing from the rest if they can get away with it. Their extremely poor ratings on all major review sites speaks enough about all the bad experiences so many people have to go through and those positive reviews are mostly fake they post themselves or through one of those Chinese "click farms" that offer services of posting fake ratings.
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