Watch Video: Gate.io Exchange Raided By Police After Users Complaint

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Gate.io (Courtesy: Twitter)
Gate.io (Courtesy: Twitter)

A September 11 visit by police produced pictures of chaos at a Gate.io office. The exchange received a visit from authorities after burned users reported it for fraud.

Their gripes centered around the KIMCHI token, a volatile asset that lost investors a lot of money during a September 3 price plummet.

Nobody likes losing in a crypto scam, but not everyone calls the cops. A group of dissatisfied crypto traders decided to break the trend of unofficial internet whining and call authorities in China. Internet rumors made what happened next unclear.

On September 11, 2020, a Gate.io office got a visit from police after angry users complained en masse. Some employees released pictures and videos on the internet with little information, causing speculation and conclusion-jumping by crypto Twitter.