Gate says it froze two accounts tied to the Binance hacker after Lookonchain flagged $250,000 in deposits to the exchange over 12 hours.
Why it matters
The reported freeze shows how exchange deposits can create an intervention point when funds linked to a hack are identified. Lookonchain's alert preceded Gate's action, connecting on-chain monitoring with an exchange account response.
Market impact
The seed reports an account freeze, not a confirmed recovery of the deposited funds. The scale reported is $250,000 over 12 hours; no further details about the accounts or the funds' status were provided.
Frequently asked questions
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How many accounts did Gate say it froze?
Gate said it froze two accounts tied to the Binance hacker.
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What prompted Gate's account freeze?
Lookonchain flagged deposits to Gate that were tied to the Binance hacker.
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How much was deposited to Gate?
Lookonchain flagged $250,000 in deposits to the exchange.
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Over what period were the deposits flagged?
The deposits were flagged over a 12-hour period.
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Does the report confirm the funds were recovered?
No. It reports that Gate froze two accounts, but does not confirm recovery of the deposited funds.
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