Bitget to Reimburse Traders for Losses after Suspicious Activity with VOXEL
Date: 2025-04-22 Author: Gabriel Deangelo Categories: BUSINESS
The Bitget cryptocurrency platform announced the return of transactions and compensation for losses to users who suffered losses as a result of suspicious activity with derivatives on the VOXEL token, a gaming asset of the Voxie Tactics project operating on the Polygon network.
On April 20, a sharp jump in interest in VOXEL was recorded, which was accompanied by an abnormally high trading volume. Bitget's risk management system responded to this by suspending some operations. Representatives of the exchange said that certain accounts may have used manipulative strategies to gain profit.
According to information from CoinGecko, the VOXEL token has risen in price by more than 300% in a week, overtaking even Bitcoin in terms of trading volume on the platform. This dynamic has attracted the attention of both traders and analysts.
One of the X users said that he initially invested less than $100 and ended up making a six-figure profit. However, after the trades were rolled back, the platform cancelled his profit. In his message, he called the incident a “systemic error on the part of the Bitget market maker,” suggesting that a failure in the liquidity support mechanisms could have caused such a sharp price movement.
Bitget promised to conduct a full analysis of all non-standard transactions within 24 hours and cancel suspicious transactions. The company also plans to develop a compensation scheme for all affected users whose positions were affected.
The exchange has previously taken measures in similar situations, reacting to unusual market activity. In this case, the platform emphasized the importance of protecting the interests of users and ensuring fairness in the market.
In this way, Bitget is trying to maintain customer trust and demonstrate transparency in the face of instability caused by speculative actions against the backdrop of growing interest in the VOXEL token.
