Gate responded to online rumors of user asset theft: An urgent investigation is underway, and preliminary assessments indicate it is an isolated incident.
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Security firm Coinspect reports that a wallet vulnerability dating back to 2018 resulted in the theft of $3.14 million last month, with Chinese users' assets at higher risk.
PANews reported on July 5th that security firm Coinspect Security published an article on the X platform stating that through analysis of crypto wallet seeds generated using insecure code since 2018, they discovered thousands of seeds that had been actually used. Last month alone, they found that these wallets had a total of $3.14 million stolen, most of which went unreported. Some funds were concentrated in a single address, exhibiting money laundering patterns. One affected address transferred $2 million out just hours after the alert was issued; it is unclear whether this was for theft. Coinspect warned that users who believe many of their assets remain at risk may be located in China.
Gates' equity assets have surpassed $200 million.
According to official sources, Odaily's equity assets have surpassed $200 million. As the platform continues to expand its global equity asset portfolio, user demand for one-stop allocation of crypto assets and global stocks continues to grow. In addition to equity products, Gate.com also offers diversified products such as equity tokens, equity perpetual contracts, and equity CFDs to meet the investment and trading needs of different users. Gate.com will continue to expand its high-quality equity assets and trading services, providing users with a more convenient and efficient global multi-asset investment experience. Gate.com has established a 24/7 trading service system covering three core markets: US stocks, Hong Kong stocks, and Korean stocks. It supports over 10,000 US stocks and ETFs, over 1,500 Hong Kong stocks, and over 1,000 Korean stocks, totaling over 12,500 stocks and ETFs globally. Users can participate in global stock investment through their Gate.com unified account using USDT, supporting fractional share transactions starting from as low as 0.01 shares, and enjoying stock dividend rights. The platform also supports cross-brokerage transfers for US and Hong Kong stocks.
KAST's terms of service have sparked controversy, with the CEO questioning user asset ownership.
PANews reported on July 7th that Mike Silagadze, founder and CEO of ether.fi, published an article questioning the terms of service of KAST, a stablecoin payment and crypto card platform. The terms explicitly state that when users transfer cryptocurrency or stablecoins to KAST, it is considered a sale of the relevant virtual assets to KAST, and users no longer retain ownership of the assets; the records displayed in the app are only denominated in USD and do not constitute account balances, deposits, or stored value. Furthermore, KAST emphasizes that it is not a bank, and user funds are not protected by deposit insurance. Since both KAST and ether.fi Cash offer stablecoin payment and crypto card services, they are direct competitors.
The South African Revenue Office has released tax guidelines for crypto assets, potentially subjecting approximately 6 million users to audits.
Odaily Odaily that the South African Revenue and Taxation Office (SARS) released a draft guidance on cryptocurrency taxation on July 1, 2026, proposing compliance rules for approximately 5.8 million to 6 million cryptocurrency users in South Africa, with a public comment period open until August 31, 2026. Under the updated framework, crypto assets are classified as intangible assets, not foreign or traditional currencies, and taxpayers are not required to pay tax on unrealized gains or losses while simply holding the assets. Tax obligations are triggered upon disposal of the assets. If an individual's crypto activity is deemed similar to business activities or short-term day trading, profits will be classified as gross income and taxed at marginal rates ranging from 18% to 45%. If crypto assets are held as long-term investments, capital gains tax will be levied on disposal gains, with an effective individual tax rate ranging from 18% to 36%. The draft also treats the exchange of crypto assets as a barter transaction, with tax consequences arising immediately at the local market value at the time of exchange. SARS announced the deployment of a Crypto Revenue Augmentation Unit to track and audit digital wallets, and urged taxpayers who had previously failed to disclose crypto earnings to complete their filings through a voluntary disclosure program to avoid administrative penalties from increased enforcement after the August deadline. (Bitcoin.com News)
Gate launches four phases of exclusive gifts for new users of instant redemption and instant redemption fixed investment benefits.
According to ChainCatcher, Gate is launching a special offer for new users of its Instant Exchange service from 16:00 on July 2nd to 16:00 on July 9th (UTC+8). During the event, new users who complete their first Instant Exchange will be eligible for multiple rewards: a single exchange of 1 USDT or more will grant a 100% chance to win a blind box, with a maximum prize of 888 USDT; a first exchange of 200 USDT or more will also grant an additional 2 USDT cash reward and one blind box draw chance; and a cumulative Instant Exchange transaction volume of 1,000 USDT will earn a 20 USDT cash reward. The total prize pool is 60,000 USDT, and rewards are distributed on a first-come, first-served basis. In addition, Gate is launching a four-phase Instant Exchange and Dollar-Cost Averaging (DCA) promotion from 16:00 on July 3rd to 16:00 on July 17th (UTC+8), with individuals eligible for rewards up to 1,300 USDT. During the promotion period, new users who complete their first Instant Exchange and create their first DCA strategy and successfully complete the deduction can receive up to 300 USDT in dual-currency investment experience funds. Users who complete Instant Exchange and DCA check-ins for 3 and 7 consecutive days can receive 300 USDT and 600 USDT in dual-currency investment experience funds respectively. Furthermore, users whose cumulative DCA trading volume reaches 100 USDT or whose cumulative Instant Exchange trading volume reaches 500 USDT can share two 10,000 USDT reward pools based on their trading volume percentage, with individuals eligible for up to 400 USDT in dual-currency investment experience funds.
SecondFi has launched an asset recovery wallet check tool, allowing users to initially check if their wallets have been affected.
According to Foresight News , Cardano wallet service provider SecondFi has launched an asset recovery wallet check tool, allowing users to initially check if their wallets have been affected. The official statement indicates that the addresses currently displayed are based on SecondFi's preliminary review data of the security incident (not final data) and may not be a complete or final list.