Gatehub New USDC IOU Problem

[pucksterpete]

@GateHub

With Gatehub adding a few new tokens to their list, such has USDC, WXRP & USDT

There is a problem, let me explain.

Today, logging in to Gatehub for the first time since 2020.  I decided to deposit 100 USDC to my wallet (not hosted) using their platform.

The transfer went fine, 100 shows deposited except that the overall balance of the account is wrong and plus the amount showing underneath the balance of 100 USDC is 0.000 (see image)

WTF!!!

So, support ticket was created and quick response from MIA was received: 

Quote

Dear,
 
We suggest you perform a hard refresh and empty cache of your browser by following the instructions below.

1. Go to the GateHub login page (https://signin.gatehub.net) and open Developer Tools

In Chrome press CTRL + SHIFT + J to open the “console” tab of the Developer Tools.

In Safari press CTRL + ALT + I to open the Web Inspector.

In Firefox press CTRL + SHIFT + K to open the Web console (COMMAND + SHIFT + K on Macs).

2. Empty Cache and Hard Reload by right-clicking the browser refresh button and choosing the mentioned option from the dropdown menu.
 
If the above does not solve the issue, we also suggest clearing GateHub related cookies from your browser;
 
1. Open your Google Chrome browser, copy-paste the first link in your URL bar, and click the button "Remove all".
2. Repeat the same process for the second link.

First link: chrome://settings/cookies/detail?site=wallet.gatehub.net

Second link: chrome://settings/cookies/detail?site=signin.gatehub.net

3. Execute a hard refresh of our platform (Ctrl+Shift+R on PC and Cmd+Shift+R on Mac) prior to signing in.

In case the above does not solve your issue we kindly suggest you try to sign in to your GateHub account from a different device and browser.
 
We would appreciate your feedback if this solved your problem. If your issue persists, please provide us with as many details as you can so we can narrow down the problem and assist you further.

Kind regards,

Mia

So, after trying everything above, same problem.  Its not on my end, they have a BUG....

Anyone else having issues?

Edited March 13, 2022 by pucksterpete

[RobertHarpool]

 ... looks like a hiccup. 

VERY excited about this USDC/T option though. Started to dabble with that today myself. I'll let you know if I experience the same. 

[jn_r]

Little off-topic, but do they still store your private key? Imo that has been a crucial design flaw, because with this construct you cannot know for sure who is responsible for transactions made on behalve of a certain account.

Either they should be full custodian or non-custodial, not both. Can't have 2 controllers of the same private key. Curious to know btw if people have been compensated already with regards to the hack ... (I have not touched Gatehub since)

Edited March 14, 2022 by jn_r

[at3n]

3 hours ago, jn_r said:

Little off-topic, but do they still store your private key? Imo that has been a crucial design flaw, because with this construct you cannot know for sure who is responsible for transactions made on behalve of a certain account.

Either they should be full custodian or non-custodial, not both. Can't have 2 controllers of the same private key. Curious to know btw if people have been compensated already with regards to the hack ... (I have not touched Gatehub since)

Yes it's the same model (now with 2FA built in to transaction submission, so a bit more centralised security).

The key is (always has been) encrypted, and Gatehub doesn't store the password (according to them), so as a user you should be able to be pretty certain that Gatehub can never execute transactions by themselves.

But I agree that their shared responsibility model can lead to problems, but usually when people export their key and then blame Gatehub when it gets compromised. And the hack of course seems like a shared responsibility nightmare.

I still like it as a convenient way of managing keys for low value accounts, but wouldn't hold a lot there either. For people who understand the mechanics behind it, I think it's nice to have as an option.

Haven't heard about hack compensation since the last press release https://gatehub.net/blog/gatehub-update-criminal-proceedings-in-france-2/

[pucksterpete]

update

Quote

Dear,
 
It appears that the rates are currently not correctly reflected from our new currencies.
 
So this is just a visual bug. We have notified our team and we'll try to resolve it as soon as possible.
 
We apologize for any inconvenience caused.
 
Let us know should you need any further assistance.

Kind regards,

Michael

 

[King34Maine]

14 hours ago, jn_r said:

Little off-topic, but do they still store your private key? Imo that has been a crucial design flaw, because with this construct you cannot know for sure who is responsible for transactions made on behalve of a certain account.

Either they should be full custodian or non-custodial, not both. Can't have 2 controllers of the same private key. Curious to know btw if people have been compensated already with regards to the hack ... (I have not touched Gatehub since)

Don't forget the Allbridge cross-chain integration that should be completed by the end Q2. The integration will bring cyrpto assets SOL, LUNA, AVAX, & Matic as well as the UST, USDT, and USDC stablecoins to the XRP Ledger via the DEX. The integration with Allbridge will also allow XRP to seamlessly cross Avalanche, Terra, Ethereum, Solana, BSC, Polygon, Fantom, Celo, Harmony, Aurora, and Heco blockchains.

1. https://ripple.com/ripple-press/allbridge-adds-support-for-xrp-ledger/
2. https://allbridge.io/

[jn_r]

8 minutes ago, King34Maine said:

Don't forget the Allbridge cross-chain integration that should be completed by the end Q2. The integration will bring cyrpto assets SOL, LUNA, AVAX, & Matic as well as the UST, USDT, and USDC stablecoins to the XRP Ledger via the DEX. The integration with Allbridge will also allow XRP to seamlessly cross Avalanche, Terra, Ethereum, Solana, BSC, Polygon, Fantom, Celo, Harmony, Aurora, and Heco blockchains.

1. https://ripple.com/ripple-press/allbridge-adds-support-for-xrp-ledger/
2. https://allbridge.io/

Interesting, curious to know how decentralized the Allbridge is or how it works, but sounds good. 

[King34Maine]

16 minutes ago, jn_r said:

Interesting, curious to know how decentralized the Allbridge is or how it works, but sounds good. 

Yeah, I haven't had the chance to take a deep dive into the platform. I just remembered I had is as one of the things on my To Do list.

[pucksterpete]

Quote

Dear,
 
Thank you for your reply.
 
The visual bug shouldn't pose any issues.
 
The minimum withdrawal is 85 USDC. So you'd need at least 120 USDC (35 USDC to cover fees) to be able to make a withdrawal.
 
You have two options. You can either deposit more USDC to cover the fees or Trade the USDC for a different currency (XRP for instance) that requires a lower withdrawal limit.
 
Let us know should you need any further assistance.

Kind regards,

Michael

still not fixed