Bitget flags irregular VOXEL/USDT activity after volume soars to $12.7B, freezing accounts and planning rollbacks amid manipulation concerns.

Crypto exchange Bitget reported that its VOXEL/USDT perpetual futures market experienced abnormal trading activity on April 20, 2025, between 8:00 and 8:30 UTC, with extreme price and volume anomalies that triggered its risk controls. During this window, trading volume on the VOXEL/USDT contract reportedly surged to around $12.7 billion, briefly surpassing even Bitcoin futures volume on the platform, an extraordinary figure for VOXEL, a relatively small-cap gaming token. Bitget’s internal review identified certain accounts it believes engaged in potential market manipulation, leading the exchange to temporarily suspend those accounts’ trading, deposit, and withdrawal functions, while stressing that all other users and platform funds remained secure. To contain the impact and restore what it describes as a fair trading environment, Bitget announced it will roll back irregular VOXELUSDT trades executed during the affected period and complete the rollback within 24 hours, while also preparing a compensation plan for users who incurred losses on VOXEL futures in that 30‑minute window. Beyond operational measures such as account freezes and trade reversals, Bitget has moved toward legal action, stating that eight accounts collectively realized over $20 million in gains and will receive legal letters as the exchange seeks to recover those profits and redistribute 100% of recovered funds to affected users via airdrops. The incident has fueled broader discussion about centralized exchange risk controls, with some outside analysts attributing the abnormal activity to a possible glitch or malfunction in Bitget’s trading or market‑making systems, highlighting both the potential for rapid, outsized gains and the subsequent risk of rollbacks and legal disputes when exchanges deem activity manipulative.

✨ AI-generated background, compiled from web sources — not editorial content.

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• Bitget Detects Abnormal VOXEL Activity, Launches Trade Rollback ... (bitget.com)
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• Notice on Abnormal Trading of VOXELUSDT Perpetual Futures - Bitget (bitget.com)
• Bitget takes legal action on alleged VOXEL futures price manipulation (tradingview.com)
• VOXEL Token Jumps 200% as Bitget Glitch Fuels $12.7 Billion ... (beincrypto.com)

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• Manipulation
• Bitget