Bitget Probes Suspicious VOXEL Surge, Promises Compensation for Affected Users

The activity, which occurred within a 30-minute window, led to an internal investigation and a freeze on several accounts believed to be involved in potential market manipulation.

Bitget has announced it will reverse profits gained through the questionable trades within the next 24 hours. The move is part of a broader corrective effort as the platform seeks to maintain integrity in its derivatives market.

Speaking to Cointelegraph, CEO Gracy Chen emphasized that the issue stemmed from individual traders, not any fault in the exchange’s infrastructure. She clarified that there was no risk to customer funds and that the situation did not pose a systemic threat to the platform.

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To support affected users, Bitget plans to issue compensation and will soon release details outlining how impacted traders will be reimbursed. Chen said that their $300 million protection fund will be used if necessary, ensuring full coverage for any remaining user losses.

The VOXEL contract in question experienced a dramatic price surge—climbing over 138% in a single day—raising concerns among the trading community. The event has sparked debate over how crypto exchanges should respond to abnormal trading patterns, drawing comparisons to past incidents like the Hyperliquid-Jelly exploit from March 2025.

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