TechFlow news, on June 5, Gate exchange CBO Kevin Lee issued a statement responding to the abnormal price fluctuations of the LA/USDT contract on the evening of June 4. The incident originated from anomalous contract index data, which caused abnormal mark prices on the platform and triggered a chain reaction in the system. Gate swiftly took measures to delist the relevant trading pairs and fully compensated all users who suffered liquidations, with total compensation exceeding 30 million USDT. The platform stated that this incident was not due to human operation and there was no "single-point liquidation" or data tampering.
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