Media reported on searches in the office of the Gate.io cryptocurrency exchange

In China, the police allegedly came to the office of the Gate.io cryptocurrency exchange. There is no official confirmation from the company itself. The platform works as usual.

The searches at the company’s Guangdong office were reported by journalist Colin Wu. According to him, investors of the KIMCHI.finance project allegedly complained to the exchange.

The project is positioning itself as a DeFi protocol with the ability to make money by providing liquidity. Over the past week, the token has fallen from $0.48 to $0.01. The fall from the absolute maximum was 99.9%.

The possible blocking of the office of the exchange by the police was reported by a user under the nickname Alice Crypto.

Citing a source, she claims that the Gate.io exchange has been closed due to “listing some farm coins.”
Alice Crypto also cites an unnamed company spokeswoman who denies the closure of Gate.io’s China office. According to her, the video recordings show the premises of the outsourcing PR team.

There are no official comments from Gate.io representatives. At the time of writing, the cryptocurrency exchange website is available. The platform works as usual.

We will remind, on September 8, the Seoul police again came with searches to the offices of the bitcoin exchange Bithumb. Investigative measures are related to the case against the company’s chairman Lee Jong Hoon.

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