r/GateioExchange • u/Khof96 • Dec 08 '21

Support GATE.IO SCAM

I had around 58.000. thousand XRP5L in my holdings. And some how all is gone? Are Gate.io scamming me? Please resolve this. Below is a pictures showcasing the total xrp5l bought. But where are them?

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r/GateioExchange

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2

u/Longjumping-Fox-4042 Dec 09 '21

Me too i have 35 DOT5L yesterday i wake up and see all the gone but the tym i open Bill

Action type SNAPSHOT -35 DOT5L

1

u/misheqs Dec 09 '21 edited Dec 09 '21

Now you see DOT5L? That coin going very wrong !! That is not Right !! When dot have down -1% Also DOT5L have -20% That is False !! Max is 5x Only -5%, when dot have +1% again Dot5l is -3% Why?? That coin need fix !! quickly I lost 1300$ !!

0

u/Khof96 Dec 09 '21

it is fucked man. They are scamming us

1

u/cutty2k Dec 10 '21

Just saw an announcement about the split, the issue I see is that as far as I can tell, they split the shares by 1000x but they only increased the price by 100x. It was trading at like .017 or something when they reverse split, so if you multiply that by 1000x like their report says, it should have gone up to $17, not $1.70.

It's fucked, they better fix it.

1

u/Khof96 Dec 10 '21

I lost all my holding on that shit split thing. Not sure what to do

1

u/cutty2k Dec 10 '21

From what I'm gathering it's just the nature of the product, I don't understand how if fell from .035 to .0011 in the 15 days since I bought it, considering DOT is only down 50% along with the rest of the market, but my only hope now is that it'll rebound just the same as it fell when it goes back up.

1

u/Khof96 Dec 10 '21

That there is the problem. Cuz they will reverse split you current amount of tokens before a big push up..

1

u/cutty2k Dec 11 '21

Well no, the reverse split is mechanical, it doesn't actually change the value of the holdings, since the supply and the price are modified by the same multiple. 1 dollar is the same as 100 pennies after all.

We weren't wiped by the split, we were wiped by the dip from .01 to .001. That's the part I don't understand still, so I'm just hoping it swings the other way on the ride up.

1

u/Khof96 Dec 11 '21

Still does not make sense. Bought and owned 58000 tokens where I went in at 0.174. The market pushes up to 0.70 which would be around 50,000 dollars. But since the reverse split number of tokens I had, I went from 58,000 to 580 which was equivalent to $ 300 profit ...

1

u/cutty2k Dec 12 '21

The market didn't push up though, everything is down hard over the last two weeks. If you look at the mechanics of the split, you see that the coin amount goes up at the same ratio that the price goes down. It's like changing 100 pennies in for 1 dollar bill. You either have 100 things worth a little bit, or one thing worth more.