Gatecoin

Gatecoin, also known by its alias, operated as a cryptocurrency exchange headquartered in Hong Kong. Its primary service was to provide a platform for users to trade digital assets such as Bitcoin and Ethereum. The exchange facilitated the buying and selling of these cryptocurrencies for its clientele. No additional product lines are specified in the available sources.

On May 9, 2016, Gatecoin experienced a cyber‑heist in which attackers stole approximately $2 million worth of Bitcoin and Ethereum from its hot wallet. The intrusion persisted over several days before suspicious transactions triggered an immediate service shutdown. The stolen amount corresponded to about 15 % of the exchange’s total holdings at that time. The remainder of the assets remained secure in multi‑signature cold wallets and were unaffected by the breach. This incident highlighted the exchange’s reliance on hot‑wallet storage for active trading funds.

Following the breach, Gatecoin identified and isolated the cryptocurrency addresses used by the attackers. It cooperated with other cryptocurrency exchanges to monitor the movement of the stolen funds. The company announced its intention to reimburse affected users for their losses. At the same time, Gatecoin prepared to resume withdrawal services once security measures were reinforced. These actions underscored its focus on customer protection and operational resilience after a security event.

The available sources do not disclose details about Gatecoin’s ownership structure, parent company, or subsidiary relationships. Likewise, no explicit information is provided about its regulatory status or broader market footprint beyond the incident description. Consequently, any further description of its scale, organizational hierarchy, or sector positioning would rely on unspecified data. The profile therefore remains limited to the confirmed facts outlined above. This concludes the factual overview based solely on the supplied information.