Crypto exchange Bitget has announced it will reverse trades and compensate users following a major trading glitch involving VOXEL. The sudden event caused a dramatic spike in the token’s trading volume, eclipsing even Bitcoin’s 24-hour volume.
VOXEL, the token of Polygon-based game Voxie Tactics, witnessed a sharp and unexpected rise in value early Sunday. Traders on Bitget’s perpetual futures market capitalized on the price jump, with one user claiming to have made six-figure profits from an investment of less than $100.
According to Bitget, the price surge and unusually high trading volume triggered its risk control system. The platform later confirmed that some accounts may have engaged in activities linked to market manipulation.
Also Read: Analyst Reveals Bitcoin Price Could Hit $200K — If This Pattern Plays Out
Bitget responded by freezing the affected trades and launching an internal investigation into the suspicious activity. The exchange stated it will reverse irregular trades within 24 hours and offer compensation to users who suffered losses during the period.
The VOXEL token, which ranks outside the top 700 cryptocurrencies by market cap, surged over 217 percent in the past week. However, this sudden momentum led to a trading imbalance that many believe was not natural.
Suspicious Trading Flags System as Users Exploit Possible Glitch
A Bitget spokesperson stated on X that the investigation is still ongoing. They promised a detailed update soon, while stressing that preserving a fair trading environment remains the platform’s priority.
The unexpected incident drew attention across social media, where some users speculated that Bitget’s market-making system may have malfunctioned. One user claimed that a flaw in the system allowed them to make a large profit within minutes.
Voxie Tactics, the game behind VOXEL, has not released a comment regarding the situation. There is no evidence yet that the game or its developers were directly involved in the unusual activity.
Bitget’s decision to reverse profits gained through the glitch has sparked mixed reactions, especially from users who stood to gain significantly. However, the exchange insists the action is necessary to maintain market integrity and fairness.
Conclusion
The rollback of VOXEL trades and the reversal of six-figure profits mark one of Bitget’s most dramatic interventions to date. The exchange aims to restore balance and trust as it continues to investigate the trading anomaly.
Also Read: Here’s Why Largest Asset Manager BlackRock is Yet to File for an XRP ETF
