Ah, the world of crypto, where the wildest dreams (and scams) come true. Bitget, the illustrious exchange, has decided it’s time to get serious and send some lawyers’ letters to those pesky traders who allegedly manipulated the price of perpetual futures tied to the ever-popular VOXEL token.
Apparently, eight daring souls, who had a flair for quick profits, made off with a cool $20 million between them during a particular day on April 20. How? You may ask. Well, it involved some sleight of hand (and a lot of leverage), but Bitget’s Chinese operations boss, Xie Jiayin, assures us that the letters are on their way. Legal action is imminent, folks, as she mentioned in an April 27 X post. Talk about drama!
“These eight accounts are the masterminds behind the whole VOXEL fiasco, and they’ve somehow pocketed more than 20 million US dollars,” she said. Of course, that’s a translation, so we can only imagine the look on her face when she typed that. 😏
But don’t panic, dear reader. If you weren’t one of those eight, you’re off the hook. According to Jiayin, everyone else who participated in VOXEL trading on April 20 and withdrew funds should just go on with their lives—no need to worry about any consequences. They’ve returned to normal, and no further action will be taken. Lucky you!
Now, let’s rewind to April 20. Bitget noticed some “abnormal trading activity” in its VOXEL/USDT perpetual futures contracts. In response, they paused suspicious accounts—because who needs that kind of chaos on their platform? The volume on the trading pair was over $12 billion, far outpacing Binance‘s metrics. No big deal, right? The aftermath? Bitget rolled back those trades to recover the ill-gotten gains. #NoOneSaidCryptoWasEasy
Bitget’s CEO, Gracy Chen, tried to calm the masses by telling CryptoMoon that the trades were made by individual traders, not the platform itself. She reassured everyone that there were no platform-wide losses, and user funds remained safe. Phew. Everyone loves a happy ending—unless you’re one of those eight, of course. 😬
Bitget Continues its Investigation
As for the rest of the drama? Jiayin says Bitget is still investigating the cause of the incident. In the meantime, the company plans to airdrop 100% of the recovered funds to those affected. How thoughtful. A complete report will follow shortly, no doubt with all the juicy details.
Some X users have a theory—could it have been a bug in a market maker bot? One that caused the VOXEL volume to spike? Apparently, some clever traders noticed the bug early and jumped on the opportunity to exploit it, using high-leverage bets to rake in a profit at zero cost. If only life were that easy, right? 🤔
For those not in the know, VOXEL is the native token for Voxies, a free-to-play 3D turn-based tactical RPG game on the Ethereum blockchain. Because, of course, that’s where all the fun happens in crypto. 🎮
Oh, and if you thought this was a one-off, think again. Back on March 27, decentralized exchange Hyperliquid suffered a similar fate, with a whale allegedly exploiting liquidation parameters to pull off a $6.26 million exploit on the Jelly my Jelly (JELLY) memecoin. Hyperliquid has since delisted JELLY perpetual futures due to suspicious market activity. Seems like crypto platforms just can’t catch a break these days.
Read More
- Ludus promo codes (April 2025)
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- ZEREBRO PREDICTION. ZEREBRO cryptocurrency
- Mini Heroes Magic Throne tier list
- DEEP PREDICTION. DEEP cryptocurrency
- Grimguard Tactics tier list – Ranking the main classes
- Fortress Saga tier list – Ranking every hero
- Seven Deadly Sins Idle tier list and a reroll guide
- Maiden Academy tier list
- Best teams for Seven Deadly Sins Idle
2025-04-28 08:11