Scam gate.io exchange

[partizan111]

I have a big problem with gate.io exchange.
There are probably many more users with the same problem.
I sent fedora coin (TIPS) coins to my gate.io wallet on April 5,6,7,8.
I sent about 600 million coins. It was written on the exchange that the deposit was working. It takes 1000 confirmations to deposit crediten.
I made a ticket ID # 244645 on April 8 where I asked to have it added to my wallet deposit.
At the beginning, they answered the tickets, they even asked me various nonsense, where did my coins come from and the like.
Then, on April 15, they wrote on the exchange that the deposit was suspended.
From April 15 until today I received 2 replies from support gate.io.
The answers are the same, the deposit has been suspended, please wait.
I received information from one gate.io user that they manually added a deposit to him on April 9, 2021.
Which proves that they do not have technical problems. That I can add a deposit manually. That user, if he wants, should publish a screenshot of manually adding a deposit.
The price of the coins when I sent them was 5x higher than the current price. I lost more than $ 15,000 because of this.
But the biggest problem is that they still keep my coins.
I don't know what to do anymore, I had to write this to warn people.
Should they be reported to Interpol, the police?
Should I file a private lawsuit?
And how to start, I live in the Balkans, I have never sued companies that do not live in my country.
If anyone can help, let them write. I apologize in bad English. I hope you understand the essence of this topic.

[bitmover]

I searched about this coin, TIPS   , and the only exchange that trades it is Gate.io

I have used gate.io to dump bitcoin fork or some other shitcoin once... I was really worried about losing money as well.

The best when you are moving that amount of money is to make various small deposits. Test the withdrawal before sending more funds and so on.


Your funds are taken hostage until they decide to release them. You will have to send all documents they request, and you probably will have to answer where those coins come from. I don't know if any police can help you....

Try to reach them in all social media telling your situations, as you are doing now.

[partizan111]

I earched about this coins, TIPS   , and the only exchange that trades it is Gate.io

I have used gate.io to dump bitcoin fork or some other shitcoin once... I was really worried about losing money as well.

The best when you are moving that amount of money is to make various small deposits. Test the withdrawal before sending more funds and so on.


Your funds are taken hostage until they decide to release them. You will have to send all documents they request, and you probably will have to answer where those coins come from. I don't know if any police can help you....

Try to reach them in all social media telling your situations, as you are doing now.

I finished it all. I proved it all. They only asked for it because of time. Let more time pass.
After that they write the deposit is suspended, wait.
But must there be a way to protect my money?
There is no law in the world that is on the side of gate.io in this case?
On what basis do they keep my deposit?
This coin is in the margin, do they use my coins for the margin?
I think I need to inform Inteprol and the police, as well as to file a lawsuit, I need advice.
More people will call, I'm not the only one who has a problem.
When I wrote publicly on the telegram and twitter about the problem, I was banned. They do not allow the community to be warned.
I received an email response today from them that they contacted:Hi, .... Sure, will check this with our CS personnel and get back to you ASAP. Best Regards
I got this answer after writing on bitcointalk and trustpilot.

[janggernaut]

https://coinmarketcap.com/currencies/fedoracoin/

Seems this coin is pumped right now, and you already missed the chance to sell it on higher price because of this problem. 600million coins is worth 0.2% from their circulating supply, that might be the reason why they asked you from where the coins come, they afraid it will make dump on market when you sell it

[bitbollo]

chinese exchange I had bad experience in the past... (BTER) better to avoid and never trust again.
they have also been hacked in 2019...
https://it.trustpilot.com/review/gate.io?languages=all&page=2&stars=1
I have seen the review and there are many complaints.
They are online since a while (2013), I don't think they are going to made such horrible figure also here in bitcointalk...  

[Bitcoin_Arena]

I have seen various complaints about them especially in regards to locking and accounts and requesting for KYC at any time. Sorry about your experience. $15,000 isn't little money.

About suing them, you might end up spending a lot of money and it may be a fruitless attempt as you might require resources to assemble a good legal time. Most of those unregulated exchanges are run of criminals you always try to bypass laws and get away with cheating/owning user funds.

[CaVO32]

I have seen various complaints about them especially in regards to locking and accounts and requesting for KYC at any time. Sorry about your experience. $15,000 isn't little money.

About suing them, you might end up spending a lot of money and it may be a fruitless attempt as you might require resources to assemble a good legal time. Most of those unregulated exchanges are run of criminals you always try to bypass laws and get away with cheating/owning user funds.

This is one of the benefits of sending small amount of coins if you are new to the exchange. Test if it will go thru or not. I remember these Fedora coins because there were faucets before for this coin and it is a very old alt. Maybe the OP accumulated it before and forgot that he has these coins up until now. And also, the exchange may also be alarmed of how much you have.
I also don't think it would be a good idea to sue them because you may end up spending a lot of money and still ended up for nothing. But that is an expensive lesson for the OP. He doesn't have any choice because right now, it is the only listed exchange for TIPS.

[psycodad]

I would be more than happy to support a scam accusation flag against gate.io if you create one.
But I think that could get difficult as gate.io seems not to be present here and I guess they know why.

I am pretty sure, they will reopen deposits, once price is back down, but right now they probably want to dump their stash onto their unknowing users as others already mentioned.

BTW: I too have a few mio TIPS pending deposit (much less than you, but still..) and I get no more reply from their support either. So it is probably save to call them a scam exchange.

Anyway, good luck and thanks for the heads-up, gate.io definitely deserves the bad reputation they get from this.

[partizan111]

They added coins to me manually. The deposit is still closed, but I managed to get my deposit via the gate.io twitter account.