On April 20, an unusual price movement occurred with VOXEL/USDT perpetual contracts, which led to a trading issue. In response, Bitget has taken action by offering compensation to users affected by this incident.
On April 22nd, Bitget declared that they had mostly wrapped up transaction rollbacks and account recoveries, and are now processing reimbursements for users who suffered losses during the VOXEL/USDT perpetual contracts incident. Moreover, the exchange is carrying out a follow-up internal review to address user concerns about incorrect fee deductions and inaccurate profit and loss calculations following the rollback.
On April 20th, around 8 a.m. UTC, the surge in VOXEL/USDT futures trading started. In a mere 30 minutes, the value of the gaming token VOXEL skyrocketed by over 200%. This sudden increase made VOXEL the most actively traded asset on Bitget, with its daily trading volume outpacing that of Bitcoin (BTC). The price fluctuations of VOXEL during this period were quite tight, oscillating between $0.125 and $0.138 before reaching a peak of $0.1645.
Because of the suspected activity by market makers, orders within that price range were executed immediately rather than waiting for a counterparty under normal circumstances. In other words, trades seemed to skip the usual process where each trade requires a matching order from the order book, instead executing instantly and without any delay.
As a result, Bitget temporarily halted trading on the VOXEL/USDT agreement and locked certain accounts implicated in unusual behavior. The platform reassured users that this incident wasn’t due to a system vulnerability or internal malfunction. However, they have not yet identified who was behind the April 20 VOXEL futures actions and provided an explanation.
it functions as both a token utilized within the game’s mechanics and as in-game currency. It plays a crucial part in the rewards system and overall economy of the game.
In the wake of the Bitget incident, VOXEL has been drawing attention lately. It’s now among the hottest tokens on CoinMarketCap and CoinGecko this weekend, primarily due to its remarkable price surge. The token soared from a mere $0.02 on Friday to an impressive intraday peak of $0.17 on Sunday, representing an astonishing 750% increase. However, it has since dipped to $0.06, but even so, it’s still nearly double its price from Friday morning.
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2025-04-22 17:47