Crypto exchange Gate.io recently;saw an outflow;of $142.2M of funds following the claims that users experienced withdrawal issues.
The platform's total assets declined to around $1.61B on June 1, down from $1.88B within the previous day.
The firm denied the rumors of withdrawal issues, saying that its operations are running healthily.
- The exchange pointed out that the alleged issues could have stemmed from the troubles at Multichain, a decentralized finance (DeFi) platform allowing users to transfer;cryptocurrencies;between different;blockchains.;
- Multichain recently stated that it is unable to reach its CEO.
- Gate.io's native token, GateToken, also saw a brief decrease in value by as much as 8% within the first 24 hours of the withdrawal issues claims before experiencing a slight recovery.