Gate CEO says exchanges must show they can survive a hack
In short
Gate CEO Lin Han said crypto exchanges need to prove they can survive a hack like Binance’s. He said Gate keeps enough assets in cold storage to cover customer balances even if hot wallets are emptied.
An independent audit is also underway. That matters because it is about customer trust and exchange safety.
What the reporting says
Gate CEO Lin Han said crypto exchanges must prove they can survive a hack like Binance’s, and said Gate holds enough assets in cold storage to cover customer balances even if its hot wallets are emptied. An independent audit is underway, according to the CoinDesk summary. The comments frame security and reserve strength as key issues for exchange trust.
Why it matters
Gate CEO Lin Han said exchanges need to prove they can survive a hack like Binance’s, and he said Gate keeps enough assets in cold storage to cover customer balances even if hot wallets are emptied. An independent audit is underway. The remarks focus on exchange security, reserve protection, and trust in crypto platforms.