Renowned German entrepreneur and cryptocurrency expert, Christopher Jaszczynski, widely known as MMCrypto, has taken to social media to expose a concerning situation with the cryptocurrency exchange Gate.io.
The co-founder of MMConsult and MMCrypto, a prominent cryptocurrency-focused YouTube channel, is alleging that Gate.io holds more than $200,000 of his funds and has refused to process the withdrawal.
MMCrypto, recognized for delivering insightful content on price analysis, economics, monetary policy, tutorials, and expert interviews, also operates as an investment fund analyst. The platform he created allows investors to leverage the expertise of its team.
The platform has garnered a substantial following for its educational and analytical content, becoming one of the most influential voices in the crypto space.
Gate.io is a cryptocurrency exchange that was established in 2013 and has consistently ranked among the top 10 exchanges.
It is known for its wide range of features, including trading in over 1400 cryptocurrencies, margin trading with leverage, margin lending or borrowing, and participation in period investment plans and Initial Exchange Offerings (IEOs).
In a surprising turn of events, MMCrypto has taken to Twitter to express frustration with Gate.io, claiming that the exchange has not honored a withdrawal request amounting to over $200,000.
He states, “I have all proof (on-chain ) and support conversations as proof. I was warning them multiple times to go public with it before writing this.”
Six month withheld funds
According to MMCrypto, approximately six months ago, he deposited some $ORDI on Gate.io, and the funds did not get credited. Despite prolonged efforts and discussions, the exchange informed him that the funds would not be returned.
The entrepreneur expresses his willingness to share on-chain evidence and discussions with the public to prevent harm to other users in the future.
The public call-out is a departure from MMCrypto’s usual positive approach, signaling the severity of the situation. He emphasizes, “I always post positive, but enough is enough. Never Gate again!”
The cryptocurrency community is closely watching this development, as MMCrypto’s influence extends beyond his YouTube channel to Twitter and other social media platforms.
Investors and followers are eager to see how Gate.io responds to these allegations and whether MMCrypto’s evidence will be made public to shed light on the situation.
A few comments from supporters such as Ash Crypto called on the exchange to release the funds of the influencer while another YouTuber and crypto influencer, DustyBC Crypto said that the situation appears that it’s happening to more users than expected.
“This video made me realize it’s happening to so many more people who have got no power to speak up,” he said. “Shame on Gate.”
MMCrypto is not the only one who has criticized the crypto exchange recently. Tola Joseph, a Nigerian crypto influencer and founder of CryptoMasterClass, a crypto education platform, has also called out the exchange.
He claims that the exchange denied him access to his account for over two years due to a lost 2FA. Instead of facilitating a simple 2FA reset, Gate.io insisted on providing information such as the first coin he traded, last coin withdrawn, and the amount, along with other requirements like current account balance. Tola described these requirements as “ridiculous.”
Gate.io has not yet responded publicly to MMCrypto’s accusations, leaving the community in suspense as they await further developments in this unfolding saga.