Bitget Accuses Eight Traders of $20 Million VOXEL Manipulation

Cryptocurrency exchange Bitget has identified eight traders involved in manipulating the token of the game Voxie Tactics (VOXEL), built on Polygon. This was reported by Xie Jiayin, head of the Chinese division of the trading platform.

看到有社区在讨论BG发出的律师函，我核实后，想跟大家澄清几个细节：
1、Bitget 将陆续发出8份律师函。
2、这8个账户疑似相关联的专业羊毛利益集团，是导致本次VOXEL事件的主要始作俑者，并从中不当得利超过2000万美金。
3、追回的资金，Bitget 将100% 以空投形式发放给平台用户！…

— 谢家印 (@xiejiayinBitget) April 27, 2025

According to him, the accounts involved in the incident on April 20 collectively gained $20 million. Rumors among X users suggest the incident was a “Bitget market maker error.”

The exchange will send legal notices to account holders suspected of forming a “professional arbitrage group.”

“All recovered funds will be returned to users in full via airdrop,” Jiayin noted.

A full report on the VOXEL incident will be published soon.

At its peak, the trading volume on the VOXEL/USDT contract exceeded $12 billion, significantly surpassing similar figures on Binance. Following the detection of unusual activity, Bitget suspended the suspicious accounts and rolled back the trades. 

In an interview with Cointelegraph, the company’s CEO Gracy Chen clarified that the trades were conducted between individual market participants, not by the platform itself. 

Earlier in April, experts confirmed insider involvement in the collapse of the Mantra token.