Gate.io Transactions What's Going On?

7 replies 266 views
probablynothingFull Member
Posts: 120 · Reputation: 589
#1Nov 3, 2021, 11:45 PM
I'm kinda confused about some transactions I've spotted in the Gate.io wallet. Checking out their Ethereum address, I've seen some strange incoming and outgoing transfers. Can anyone help me make sense of this?
3 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#2Nov 5, 2021, 02:12 AM
I've seen some recent outgoing transactions. One led to this wallet which seems kinda quiet. Maybe just a regular user? But honestly, who knows with crypto. Another one goes to a different wallet, and I'm just like... is this a hobby for someone?
4 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#3Nov 5, 2021, 07:28 AM
Just give it a minute, and I bet we'll see that 0.00321 ETH pop up again. It's like a pattern or something.
4 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#4Nov 5, 2021, 01:11 PM
I dug into more of these transactions. One wallet is pushing ETH to another one linked to Liqui.io. Why would they do that? Then there’s a seemingly rich user, haha, and another one that might just be someone withdrawing. This all feels odd to me.
0 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#5Nov 5, 2021, 01:45 PM
Seems like everyone’s had the same bright idea to deposit ETH at Gate.io. I mean, it's happening all over the place.
4 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#6Nov 5, 2021, 11:58 PM
A couple of hours back, I noticed that you can't exactly send 0.00321 ETH. So, is the fee being sent instead? If those wallets are somehow linked to Gate.io, could it mean they're bots? Kinda feels like a programmed cycle rather than human actions.
2 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#7Nov 6, 2021, 03:47 PM
I really doubt this is just about Gate.io. It feels bigger than that.
6 Reply Quote Share
probablynothingFull Member
Posts: 120 · Reputation: 589
#8Nov 6, 2021, 10:05 PM
Now the transactions seem to have slowed down. Not sure if it's due to some upgrade, regulations, or just people getting spooked. But if there are real trades happening here, it could be inflating the trading volume. Just a thought, but figuring out which bots are involved might be tricky.
1 Reply Quote Share

Related topics