PANews reported on June 5 that in response to the recent LAUSDT perpetual contract incident, Gate CBO Kevin Lee released a detailed response on the X platform today, explaining the incident and the platform's response plan. He said that the anomaly was caused by a short-term and drastic fluctuation in the market source, and the platform quickly completed trading suspension, notification announcement, and activation of emergency risk control mechanisms within 15 minutes.

According to his explanation, the platform has decided to retain all profitable orders and compensate 100% of the users who have lost money, with the total amount exceeding 30 million USDT. Kevin emphasized: "This is not only our responsibility, but also a basic commitment to the community."

Kevin further clarified, "There was no internal manipulation in this incident, nor was there any "single-point liquidation" or deliberate user explosion." Gate has always prioritized the interests of users and the community. The platform has begun to optimize prevention mechanisms and review the qualifications of contract indices with stricter standards to ensure more stable market operations in the future.