Bitget takes legal action on alleged VOXEL futures price manipulation
Bitget is sending legal letters to eight account holders accused of manipulating the price of perpetual futures contracts for the VOXEL token, allegedly profiting $20 million from the incident on April 20. The exchange identified these accounts as the main instigators of the market manipulation. Other users who traded VOXEL on that date and withdrew funds are not facing repercussions. Bitget paused accounts suspected of manipulation after detecting abnormal trading activity, which resulted in over $12 billion in volume for the VOXEL/USDT pair. The exchange rolled back irregular trades to recover gains and plans to distribute 100% of recovered funds to affected users via airdrops. A complete incident report is forthcoming, and some users suggested a bug in a market maker bot may have triggered the excessive volume. VOXEL is the utility token for Voxies, a tactical RPG game on Ethereum.
