The price of Gate.io's token, GateToken (GT), has dropped by 10% due to heavy outflows from the exchange, with $148 million leaving the platform in just 24 hours.

Gate.io has seen the highest level of outflows among the top 10 centralized exchanges, with outflows over a 7-day and 1-month period standing at $176.3 million and $222.7 million, respectively.

Despite rumors that Gate.io's financial health is in a poor state and that it has been affected by the Multichain incident, the exchange has denied these claims and stated that its operations are running healthily.