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- 🎉 Attention Alpha fans! Alpha’s latest TAG airdrop goes live today at 10 AM—first come, first served!
💰 Don’t forget to share your airdrop or points screenshot on Gate Square with the hashtag #ShowMyAlphaPoints# for a chance to win a share of the $200 token mystery box!
🥇 Top points winner: $100
✨ 5 outstanding posts: $20 each
📸 Pro tips:
Add a caption like “I earned ____ with Alpha. So worth it”
Share your points-earning tips or redemption experience for a better chance to win!
📅 Activity deadline: August 10, 18:00 UTC
Let’s go! See you tonight: https://www.gate.com/announcements/article - Hey fam—did you join yesterday’s [Show Your Alpha Points] event? Still not sure how to post your screenshot? No worries, here’s a super easy guide to help you win your share of the $200 mystery box prize!
📸 posting guide:
1️⃣ Open app and tap your [Avatar] on the homepage
2️⃣ Go to [Alpha Points] in the sidebar
3️⃣ You’ll see your latest points and airdrop status on this page!
👇 Step-by-step images attached—save it for later so you can post anytime!
🎁 Post your screenshot now with #ShowMyAlphaPoints# for a chance to win a share of $200 in prizes!
⚡ Airdrop reminder: Gate Alpha ES airdrop is - Gate Futures Trading Incentive Program is Live! Zero Barries to Share 50,000 ERA
Start trading and earn rewards — the more you trade, the more you earn!
New users enjoy a 20% bonus!
Join now:https://www.gate.com/campaigns/1692?pid=X&ch=NGhnNGTf
Event details: https://www.gate.com/announcements/article/46429 - Hey Square fam! How many Alpha points have you racked up lately?
Did you get your airdrop? We’ve also got extra perks for you on Gate Square!
🎁 Show off your Alpha points gains, and you’ll get a shot at a $200U Mystery Box reward!
🥇 1 user with the highest points screenshot → $100U Mystery Box
✨ Top 5 sharers with quality posts → $20U Mystery Box each
📍【How to Join】
1️⃣ Make a post with the hashtag #ShowMyAlphaPoints#
2️⃣ Share a screenshot of your Alpha points, plus a one-liner: “I earned ____ with Gate Alpha. So worth it!”
👉 Bonus: Share your tips for earning points, redemption experienc - 🎉 The #CandyDrop Futures Challenge is live — join now to share a 6 BTC prize pool!
📢 Post your futures trading experience on Gate Square with the event hashtag — $25 × 20 rewards are waiting!
🎁 $500 in futures trial vouchers up for grabs — 20 standout posts will win!
📅 Event Period: August 1, 2025, 15:00 – August 15, 2025, 19:00 (UTC+8)
👉 Event Link: https://www.gate.com/candy-drop/detail/BTC-98
Dare to trade. Dare to win.
FTX lawsuit exposed: Low liquidity token manipulation leads to hundreds of millions in losses
FTX Lawsuit Reveals Shocking Insider: Suspected Market Manipulation Leads to Hundreds of Millions in Losses
Recently, a lawsuit related to FTX has attracted widespread attention from the cryptocurrency community. This lawsuit against Nawaaz Mohammad Meerun reveals a series of shocking market manipulation activities, which reportedly caused losses of up to hundreds of millions of dollars.
Low Liquidity Tokens Become Manipulation Tools
According to documents from the Delaware bankruptcy court, Meerun is accused of exploiting loopholes in the FTX platform to conduct large-scale market manipulation. His main tactic was to concentrate on buying low liquidity tokens such as BTMX, BAO, TOMO, and SXP.
Starting from January 2021, Meerun reportedly accumulated about half of the BTMX token supply, causing its price to surge by 10,000% within three months. Subsequently, he used FTX's leverage and margin trading rules to borrow large amounts of money by using these tokens as collateral.
FTX's response raises questions
It is puzzling that, despite receiving warnings from BitMax, FTX seemingly did not take timely and effective measures. At that time, FTX Digital Markets co-CEO Ryan Salame was accused of ignoring these alerts. It wasn't until the scale of the problem expanded to at least $400 million that anyone realized the seriousness of the situation.
What’s even more confusing is that, even after the issue was discovered, FTX still failed to completely freeze Meerun's account. This allowed him to successfully transfer over $450 million in funds.
Alameda Research Caught in the Maelstrom
The lawsuit documents also disclose that Meerun's operations not only affected FTX but also impacted Alameda Research. He shorted a token named Mobile Coin (MOB) on FTX, forcing Alameda to purchase a large amount of MOB to cover its short position. This series of operations is estimated to have caused Alameda losses of up to $1 billion.
Meerun's Response
In the face of these allegations, Meerun insists that his actions are entirely within the guidelines set by FTX and denies any association with criminal networks. He stated that his trades on FTX were actually losses and emphasized that he has never provided funding for any extremist or terrorist networks.
Industry Warning
This incident has sounded the alarm for the cryptocurrency industry. It highlights the importance of exchanges strengthening KYC procedures, improving internal control mechanisms, and establishing a sound risk assessment system. At the same time, investors also need to be vigilant, especially regarding the unusual fluctuations of low liquidity tokens.
This case once again proves that even on seemingly regulated platforms, market manipulation and misconduct can still occur. It reminds us that prudent and continuous regulation and risk management are crucial in the cryptocurrency market.