On June 5th, regarding the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee issued a detailed response on the X platform today, explaining the event's progression and the platform's response plan. He stated that this anomaly was triggered by a short-term violent fluctuation in market sources, and the platform quickly took measures within 15 minutes, including trading suspension, notification announcement, and launching emergency risk control mechanisms.
According to his explanation, the platform has decided to retain all profitable orders and provide 100% compensation to users with liquidated positions, with the total amount exceeding 30 million USDT. Kevin emphasized: "This is not only our responsibility but also a basic commitment to the community."
Kevin further clarified that "there was no internal operational behavior in this incident, and absolutely no 'single point liquidation' or intentional user liquidation occurred." Gate has always prioritized user and community interests, and the platform is currently working to optimize preventive mechanisms, reviewing contract index qualifications with stricter standards to ensure more stable market operations in the future.
