 | Gate.io is accused of using 320K ETH sent by Crypto.com to fluff a proof-of-reserves audit. I dug into some of the details, and it looks like this may not be the case based on the timeline of events and block height. Despite this, many are still claiming Gate.io falsified its reserves. Here's what I've collected: Oct 19, 2022Audit firm Armanino LLP takes a snapshot of Gate.io's BTC and ETH reserves, later reported in a proof-of-reserves audit report released on Oct 28. Source: Report download @ https://proof-of-reserves.trustexplorer.io/clients/gate.io Oct 21, 2022, 02:52 UTCCrypto.com transfers 320,000 ETH to Gate.io. Source: https://etherscan.io/tx/0xb426efda7525776e856b414c87ec0d7859e9bccafe727c174c7b51ed7ada6bee Oct 24 - Oct 30, 2022Gate.io transfers back 285,000 ETH in multiple transactions to Crypto.com, then another 35,000 ETH in one transaction. Cumulative 285,000 ETH Tansfers: https://etherscan.io/address/0x0d0707963952f2fba59dd06f2b425ace40b492fe?toaddress=0x6262998Ced04146fA42253a5C0AF90CA02dfd2A3 35,000 ETH Transfer: https://etherscan.io/tx/0x7a50fb42a56e8892b61167eedeb8e410b197e9970e1f0d3e831b09b01e6448fa Oct 28, 2022Audit firm Armanino LLP publishes its proof-of-reserves report of Gate.io: 107.79% BTC and 104.45% ETH in reserves. Source: Report download @ https://proof-of-reserves.trustexplorer.io/clients/gate.io Nov 13, 2022, 01:35 UTCCrypto.com CEO Kris Marszalek addresses concerns around the undisclosed 320K ETH transfer from Crypto.com to Gate.io https://twitter.com/kris/status/1591605600638881792 Nov 13, 2022, 04:15 UTCSolidity developer Shegen questions Gate.io's reserves report and the 320K ETH that Crypto.com transferred. https://twitter.com/shegenerates/status/1591645956767883264 Nov 13, 2022, 05:15 UTCSamczsun, a researcher from the investment firm Paradigm, points out that the audit snapshot of the Gate.io ETH balance was taken at block 15778435, while the Crypto.com transfer occurred after the snapshot on block 15793614. https://twitter.com/samczsun/status/1591661157219459073 Nov 13, 2022, 05:45 UTCGate.io CEO Lin Han releases a tweet regarding the audit date and Crypto.com transfer date. [link] [comments] |
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