Gate deceives users in the BOB incident, and many problems can be found just from the announcement released by Gate.
1) On November 20th, in the case where the BOB listing fell more than 60% below the subscription price, an urgent, voluntary, and proactive announcement of a voluntary refund was issued.
a. Since the announcement indicates that the refund is voluntary, it means that as long as the user wants to refund, the user should receive 100% of the BOB they subscribed to. The announcement also states that Gate will refund the entire BOB subscribed to in the wallet, rather than the unlocked BOB; then why does Gate only refund 50% of the BOB and refuse to refund the remaining 50%?
b. Because users all believe that there will be a 100% refund, even when the unlocked 50% BOB rises to 0.028 (subscription price 0.023), users dare not sell, fearing it will affect the subsequent refund of the 50% locked BOB. In the end, gate refused to refund the locked 50% BOB, but instead reclaimed the unlocked 50% BOB at the price of 0.023. That is, among the reclaimed 50% BOB, if users sold on the exchange, it would have been more appropriate. For example, I subscribed for 100,000 U, and the unlocked 50% was over 2.1 million BOB, 2,100,000 × (0.028-0.023) = 10,500 U. If gate had initially declared to only refund the unlocked 50%, I would have chosen to sell directly, and could even have sold for a few thousand to ten thousand U more.
c. The refund date stated in the announcement is until December 20th, but a few days later it suddenly changed to a deadline of November 28th, causing many people to be unaware and miss the refund time.
d. The announcement also states that 100% of users' refund rights are guaranteed, so why only refund 50%? Why is the remaining 50% not guaranteed?
2) On December 4th, the announcement released by gate
a. The wording no longer uses the voluntary refund for the subscribed bob, but instead changed to the voluntary refund applications for the unlocked token portion have officially ended. Isn't this contradictory? They just don't want to refund users.
b. In the announcement: Currently, the development trend of the bob project ecosystem is good, and its token market price has stabilized and continues to be above the subscription price. Isn't this just saying nonsense with eyes wide open? The announcement date is December 4th, and everyone can see through the K-line chart that the token price has almost fallen for a week, long-term below the subscription price of 0.023.
c. From November 20th to December 4th, no matter when or who asks the gate official how to refund the remaining 50% locked bob, there is only one reply: communicating with the project party, and after half a month of communication, there is only this sentence. Regarding the K-line that exploded by 141% on December 3rd, I believe gate initially wanted to refund users the 50% locked amount, but the communication did not go well, and later they did not want to pay out of their own pocket for refunds, so they had bob's project party accompany them to stage a play, raising the coin price, so that they could use the excuse of the coin price rising above the subscription price on December 4th to refuse to refund users. Otherwise, refusing to refund would be an obvious negative news, and on that day bob also had no particularly positive news, how could it suddenly explode by 141% after falling for a week? The answer is only one, which is that bob and gate are in collusion, cooperating to release the non-refund announcement.
d. In the announcement on December 4th, gate reiterated that it would not intervene in the handling plan for the remaining 50% of bob, which means it has decided not to refund everyone. This contradicts the statement made on November 20th that guaranteed 100% user refund rights for the subscribed bob, not the unlocked 50% bob. A trading platform openly going back on its word and deceiving users is truly chilling.
Recently, influential KOLs on X are desperately discussing the fraudulent donation and kissing incident because it can bring them traffic, while gate's behavior of deceiving users is what truly affects every user and is really worth attention, discussion, and condemnation. However, this does not bring a lot of traffic, and many KOLs are also unwilling to offend the gate exchange, so everyone chooses to ignore this matter. In fact, KOLs who genuinely fight for users, shout, and struggle will win everyone's true trust.
Regarding the content of this article:
The announcements are all issued by the gate officials themselves, and everyone can verify; bob has only raised a total of 3.2 million U, and after a full refund of 1.6 million, the remaining 50% is only 1.6 million, which is not much for a first-tier exchange like gate, yet they lack the vision to go back on their word and refuse to refund, which is simply an insult to a first-tier exchange. I think exchanges like Binance and OKX are ashamed to be referred to as first-tier exchanges alongside gate.
