Bybit funds were stolen, and Gate.io is actively assisting while continuously strengthening asset security and industry transparency.

Recently, the cryptocurrency trading platform Bybit encountered a fund theft incident, causing market concern about asset security. Gate.io took the initiative to contact Bybit for the first time, expressing willingness to assist in recovering the funds, demonstrating a responsible attitude in the industry and a high degree of attention to asset security on the platform.

As a leading global exchange, gate has always put user asset security first, ensuring platform security and further strengthening market trust through strict risk control mechanisms, 100% reserve proof, and high transparency management.

Reserve growth steady, security and trust further upgraded

On January 17, 2025, Gate.io announced its latest reserve data, showcasing its outstanding performance in asset security and transparency. The latest data shows that Gate.io’s total reserves amount to $10.328 billion, ranking fourth globally, with a total reserve ratio as high as 128.58%, an increase of 4.67% from the previous period, far exceeding the industry standard of 100%.

🔹 BTC reserve amount: 20,412 coins, reserve ratio 123.06%
🔹 ETH reserve amount: 257,007 coins, reserve rate 112.04%
🔹 USDT reserve quantity: 910,783,326 coins, reserve ratio 118.60% (an increase of 9.35% from last year)

In addition, Gate.io’s excess reserve has reached $22.96 billion, an increase of $4.5 billion since December 2024, with a growth rate as high as 24.38%, further strengthening the platform’s asset security protection.

The importance of 100% reserve: safeguarding asset security and enhancing user trust

The 100% reserve system is a key standard for verifying the security of user assets on exchanges, ensuring that exchanges have enough assets to meet the withdrawal needs of all users. Since the FTX incident in 2022, major exchanges have successively introduced Proof of Reserves. Gate.io has also actively responded and became one of the first exchanges to adopt Merkle Tree technology and pass third-party audits in 2020.

🔹 In 2023, gate will further introduce zero-knowledge proof (zk-SNARK) technology to ensure user privacy while achieving high transparency in reserve verification, allowing users to instantly check and verify the platform’s asset reserves.

Dr. Han Lin, the founder of gate.io, pointed out, “The crypto market is often influenced by panic emotions, and transparency is key to building user confidence. Gate.io’s reserve system allows users to verify asset conditions at any time, ensuring the security and stability of the platform.”

Technological innovation drives transparency and enhances industry standards

To ensure the security and transparency of assets, Gate.io continuously innovates in the reserve audit field, providing a more comprehensive user verification mechanism:

✅ Zero-Knowledge Proof (zk-SNARK) technology: verifies platform reserve adequacy without revealing user transaction privacy
✅ Merkle Tree verification: Users can check whether their personal assets are covered by 100% reserve through a dedicated page.
✅ Cold and hot wallet rights verification: multiple security mechanisms ensure the security of asset storage
✅ Instant user balance snapshot: Users can check the latest asset data at any time

Gate.io also undergoes audits by authoritative blockchain security institutions such as PeckShield to further enhance market trust and ensure that the exchange’s reserves meet the highest security standards.

Continuously promote industry transparency, enhance global user confidence

The rapid development of the digital asset market has made the security and transparency of exchanges a key competitive advantage. Gate.io adheres to the regular publication of reserve data, implements a 100% reserve policy, and establishes higher standards for the industry.

🔹 High transparency operation: Users can instantly verify the status of their personal assets and the platform’s reserve.
🔹 Third-party Audit: Verified by authoritative institutions to ensure the data is authentic and reliable
🔹 Technology Innovation Driven: Continuously optimizing zk-SNARK technology to ensure user privacy and asset security

In the future, Gate.io will continue to strengthen technological research and development, promote the secure development of the cryptocurrency trading market through transparent operations and innovative technology, and work with global users to create a trustworthy digital asset trading environment.