Gate CEO Lin Han confirms the exchange holds enough cold-storage assets to cover all customer balances, as the firm initiates an independent audit to demonstrate security resilience.
The article only reports Gate CEO Lin Han saying Gate holds enough cold-storage assets to cover customer balances and that an independent audit is underway, after a reference to a Binance hack. No figures, dates, or direct Bitcoin impact are given, so any effect on BTC confidence is limited and mixed.
Gate CEO Lin Han stated that the exchange maintains sufficient assets in cold storage to cover all customer balances, even in the event of a total hot wallet compromise. The firm is currently undergoing an independent audit to verify its holdings and bolster transparency following industry-wide concerns regarding exchange security.
Gate utilizes cold storage to hold assets, ensuring that even if hot wallets are compromised, customer balances remain covered.
Yes, the company is currently conducting an independent audit to verify its asset reserves.