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Futures
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Hundreds of contracts settled in USDT or BTC
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Alpha Points
New
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Futures Points
New
Earn futures points and claim airdrop rewards
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Simple Earn
Earn interests with idle tokens
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Auto-invest on a regular basis
Dual Investment
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Crypto Loan
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Pledge one crypto to borrow another
Lending Center
One-Stop Lending Hub
VIP Wealth Hub
New
Customized wealth management empowers your assets growth
Private Wealth Management
Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
Staking
Stake cryptos to earn in PoS products
BTC Staking
HOT
Stake BTC and earn 10% APR
GUSD Minting
New
Use USDT/USDC to mint GUSD for treasury-level yields
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- 🚀 Gate Square “Gate Fun Token Challenge” is Live!
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⏰ Event Time: Nov 5 10:00 – Nov 12 26:00 UTC
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If delivery is unavailable, th
The NFT scam that sparked all the controversy: $1.6 million missing
This is the story of how an NFT project turned into a complete disaster. In January 2022, the CryptoSis collection was launched with 6,069 non-fungible tokens. The initial price was 0.1 ETH per piece, which at the time generated $1.6 million in revenue.
Investors were lured with tempting promises:
What happened next?
The surprise came when all funds were withdrawn from the project’s wallet without warning. The project was completely abandoned.
The unexpected justification
When confronted about what had happened, the response was simplistic: they blamed “negative and disrespectful” comments they saw in the community chat. When asked to at least return some of the money or fulfill minimal commitments, they outright refused.
This is one of those stories that continues to fuel distrust in NFTs and remind us why due diligence is crucial before investing in any crypto project. The lesson: pretty promises + sudden abandonment = recipe for disaster.