Gate said on November 15 that it has not handed over assets in an ongoing police investigation in India. In its official statement, the exchange said it continues to hold the funds under a court order while the affected user has an opportunity to respond.
The funds remain frozen, but Gate says it has neither committed to a handover nor accepted the police request without further review. This account reflects Gate's statement, rather than a published court ruling.
A Freeze Request Became a Longer Review
According to Gate, the police freeze request arrived in September 2025. Its anti-money-laundering team then sought more evidence, while its legal team requested supporting documents.
The exchange described the police's on-chain records as detailed, covering multiple wallets and fund flows. It said those records were still subject to internal review.
A request concerning an asset handover followed in April 2026. Gate says it sought further material in response. When it contacted police again in September 2026, authorities confirmed that the case remained under court review.
Gate's stated position is that cooperation with the investigation has not amounted to agreement to transfer the assets.
Counsel Can Assist, but the User Must Respond
Gate said it has committed legal resources to the case since 2025 and kept communication open for the user.
On the day police told the exchange that a charge sheet had been filed, Gate asked whether it could share an update on the case with the user. It said it provided that update after receiving permission, allowing the affected users to follow proceedings and seek legal advice.
Its retained local counsel is also communicating with police and the court.
According to Gate, local counsel advised that the exchange cannot defend the user or challenge the court order on the user's behalf. Counsel also advised that the user can pursue a challenge through the court process.
Custody Is the Relevant Cardholder Issue
For readers assessing Gate Card Classic, the relevance is access to funds held by the exchange. A balance can remain in Gate's custody while a court order prevents its release, even when the exchange says it has made no commitment to hand it over.
The statement concerns this particular freeze case, rather than a card-program update, and gives no basis to infer a wider interruption to card spending.
Overview
Gate says it reviewed requests individually, sought additional evidence and has transferred no assets. The case remains unresolved: the funds are held under a court order, and the user's route to contest that order is through the court process described by Gate's local counsel.
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