{"id":62504,"date":"2025-04-28T10:08:04","date_gmt":"2025-04-28T10:08:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=62504"},"modified":"2025-04-28T10:08:04","modified_gmt":"2025-04-28T10:08:04","slug":"bitget-targets-traders-with-legal-action-over-voxel-price-manipulation","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=62504","title":{"rendered":"Bitget Targets Traders With Legal Action Over VOXEL Price Manipulation"},"content":{"rendered":"

Cryptocurrency exchange Bitget has announced legal action against eight account holders accused of manipulating the price of VOXEL perpetual futures contracts. The exchange claims the traders unlawfully profited by over $20 million during an incident <\/span>on 20 April 2025<\/span>.<\/span><\/p>\n

Xie Jiayin, Bitget\u2019s head of Chinese operations, revealed in an 27 April 2025 <\/span>post on X<\/span><\/a> that the exchange\u2019s legal team will send letters to the implicated accounts \u201cin quick succession.\u201d <\/span><\/p>\n

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Bitget Targets VOXEL Manipulators <\/span><\/h2>\n

Jiayin labeled these accounts as the \u201cmain instigators\u201d behind the manipulation, assuring other VOXEL traders that <\/span>no further action would be taken<\/span> against users who traded and withdrew funds on that day without involvement in the scheme.<\/span><\/p>\n

The issue arose when Bitget detected unusual trading activity on its VOXEL\/USDT perpetual futures market. <\/span>The trading volume surged past $12 billion<\/span>\u2014far exceeding<\/span> typical levels and outpacing activity on larger platforms like Binance.<\/span><\/p>\n

Bitget quickly froze suspected accounts and reversed irregular trades to recover illicit gains.<\/span><\/p>\n

Bitget CEO Gracy Chen clarified <\/span>at the time<\/span> that the trades were conducted solely between individual market participants, stressing that the platform itself was not compromised and that user funds remained secure.<\/span><\/p>\n

Jiayin confirmed that Bitget will return 100% of the recovered funds to affected users via airdrops, with a full incident report forthcoming.<\/span><\/p>\n

\u770b\u5230\u6709\u793e\u533a\u5728\u8ba8\u8bbaBG\u53d1\u51fa\u7684\u5f8b\u5e08\u51fd\uff0c\u6211\u6838\u5b9e\u540e\uff0c\u60f3\u8ddf\u5927\u5bb6\u6f84\u6e05\u51e0\u4e2a\u7ec6\u8282\uff1a
1\u3001Bitget \u5c06\u9646\u7eed\u53d1\u51fa8\u4efd\u5f8b\u5e08\u51fd\u3002
2\u3001\u8fd98\u4e2a\u8d26\u6237\u7591\u4f3c\u76f8\u5173\u8054\u7684\u4e13\u4e1a\u7f8a\u6bdb\u5229\u76ca\u96c6\u56e2\uff0c\u662f\u5bfc\u81f4\u672c\u6b21VOXEL\u4e8b\u4ef6\u7684\u4e3b\u8981\u59cb\u4f5c\u4fd1\u8005\uff0c\u5e76\u4ece\u4e2d\u4e0d\u5f53\u5f97\u5229\u8d85\u8fc72000\u4e07\u7f8e\u91d1\u3002
3\u3001\u8ffd\u56de\u7684\u8d44\u91d1\uff0cBitget \u5c06100% \u4ee5\u7a7a\u6295\u5f62\u5f0f\u53d1\u653e\u7ed9\u5e73\u53f0\u7528\u6237\uff01\u2026<\/p>\n

\u2014 \u8c22\u5bb6\u5370 (@xiejiayinBitget) April 27, 2025<\/a><\/p>\n\n

Speculation within the crypto community suggests the manipulation may have <\/span>been triggered<\/span> by a flaw in a market maker bot, which inflated VOXEL trading volumes. <\/span><\/p>\n

Savvy traders allegedly exploited the glitch using high-leverage positions, turning the bug into a zero-cost profit opportunity. VOXEL <\/span>serves as<\/span> the native token for <\/span>Voxies<\/span><\/em>, a blockchain-based tactical RPG game on Ethereum.<\/span><\/p>\n

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Trader Exploits Hyperliquid\u2019s Liquidation Mechanism for $6.26M in JELLY <\/span>Futures<\/span><\/h2>\n

This event mirrors a <\/span>similar<\/span> case <\/span>on 27 March 2025<\/span>\u00a0involving <\/span>decentralized<\/span> exchange Hyperliquid, where a trader reportedly exploited liquidation mechanisms to earn $6.26 million from JELLY memecoin futures. <\/span><\/p>\n

The attacker used $7 million across multiple accounts to trigger a 400% price pump. This forced Hyperliquid\u2019s liquidity vault to absorb the losses. <\/span><\/p>\n

Hyperliquid eventually shut down the JELLY market. Furthermore, Hyperliquid promised to compensate affected users. However, they faced heavy criticism for <\/span>its handling of<\/span> the situation. <\/span><\/p>\n

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Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n

\n

Key Takeaways<\/h3>\n

Bitget is taking legal action against eight traders accused of manipulating VOXEL futures and profiting over $20 million.<\/span> <\/p>\n

A suspected bot glitch led to abnormal VOXEL trading volumes, which savvy traders exploited with high-leverage positions.<\/span> <\/p>\n

Bitget will airdrop recovered funds to affected users and is preparing a full incident report.<\/span> <\/p><\/div>\n

The post Bitget Targets Traders With Legal Action Over VOXEL Price Manipulation<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Cryptocurrency exchange Bitget has announced legal action against eight account holders accused of manipulating the price of VOXEL perpetual futures contracts. The exchange claims the traders unlawfully profited by over $20 million during an incident on 20 April 2025. Xie Jiayin, Bitget\u2019s head of Chinese operations, revealed in an 27 April 2025 post on X […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-62504","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/62504"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62504"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/62504\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}