Gate IO exchange repairs price display glitch, offers refunds to affected users

The Gate IO exchange, one of the widely used futures markets, had to repair a minutes-long glitch to correct a futures pricing malfunction. The exchange has not closed other services, and will compensate users who suffered losses from the delay. 

Gate IO, one of the most widely used exchanges, encountered excessive traffic, which led to delayed futures pricing display. Some users reported missing balances on their futures trading panels. Traders feared they had been liquidated unexpectedly after not finding their balances updated correctly. However, the funds were safe, and Gate quickly reacted with a fix. 

The exchange users noticed the glitch during one of the busiest trading days of the year, when the futures markets saw peak inflows of liquidity and trading volumes. Gate announced that no balances were lost or affected, and all services are back online. 

We apologize for any inconvenience caused. Currently, your trading, deposits, withdrawals, and assets are unaffected. We will provide a compensation channel for users who encountered issues. https://t.co/W4bbu9JjYg https://t.co/zyCFoDM09R

— Gate (@Gate) April 23, 2025

The platform briefly stopped its futures markets until it patched the issue. Users can now see their futures balances on the trading interface. Previously, Gate explained that the data delay was due to excessive traffic. The exchange will not compensate users for regular losses caused by market fluctuations. However, users complained that the loss of the futures interface meant they could not close trades, leading to unexpected liquidations. 

Busy trading days have previously caused exchanges to close services. A week ago, Binance and KuCoin had outages due to AWS cloud problems. During previous rallies, Coinbase has reported delayed services. Currently, Gate continues to work as usual, once again displaying correct futures balances and pricing.

Gate IO volumes jump by 28%

The overall crypto market rally boosted Gate’s performance. The exchange carried over $4.8B in daily volumes, up by 28% in the past 24 hours. The leading BTC/USDT pair made up close to 12% of that traffic after BTC broke out to a higher price range. 

The exchange also saw the third-largest liquidations among centralized markets. For the past 24 hours, $85M was liquidated on the exchange, with a 87.21% short share. 

Gate is ranked among the top 10 centralized exchanges, with activity close to the levels of Mexc and KuCoin. The market operator has $6.27B in reserves as of April 23.

Gate is also among the top 10 most trusted centralized exchanges, which has managed to remain safe from exploits despite rumors.

Gate is one of the oldest market operators, offering services since 2013. It has registrations in multiple crypto-friendly regions, including Malta, Gibraltar, the Bahamas, and others. The exchange was also key to providing liquidity for multiple meme tokens.

Following the increased traffic, the GATE native token rallied to $23.80, trading near a one-month peak. Exchange tokens as a whole expanded, reflecting the return of traders after the relatively inactive Easter weekend.