Bitget exchange “will distribute 100% of the recovered funds to platform users in the form of airdrops!” Crypto Exchange Bitget stated that it will take legal action against the 8 accounts that manipulated VOXEL tokens trading on the platform and profited $20 million with its price surge on April 20. Bitget’s representative, Jiayin Xie, posted on X, “The professional wool interest groups suspected to be associated with these 8 accounts are the main instigators of the VOXEL incident and have improperly gained more than 20 million US dollars from it.”
VOXEL, the native token of the Polygon-based game Voxie, surged in volume all of a sudden, with its price gaining value by 560%. The token reached $0.139 from $0.021 within 48 hours. Interestingly, on the same day, Bitget flagged up a suspicious activity:
“Between 8:00 and 8:30 (UTC) on April 20, 2025, Bitget detected abnormal trading activity in the VOXELUSDT perpetual futures, with unusual volume and price movements. Upon investigation, certain accounts were found to have potentially engaged in market manipulation, triggering our risk control system. Affected accounts have been temporarily suspended from trading, deposit, and withdrawal functions.”
Xie stated, “Bitget will distribute 100% of the recovered funds to platform users in the form of airdrops!” Meanwhile, just over a month ago, the CEO of Bitget, Gracy Chen, stated on an X post that Hyperliquid may be on track to become FTX 2.0. Referring to the incident where the decentralized exchange Hyperliquied delisted the memecoin, JELLY, Chen stated:
“The way it handled the $JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Despite presenting itself as an innovative decentralized exchange with a bold vision, Hyperliquid operates more like an offshore CEX with no KYC/AML, enabling illicit flows and bad actors.”
