Bitget Takes Legal Action Against Eight Accounts Over $20M VOXEL Token Manipulation

Bitget has initiated legal proceedings against eight accounts involved in the manipulation of the VOXEL token, which caused an abnormal price surge and disrupted market stability. The exchange plans to redistribute 100% of recovered funds and has vowed to uphold market integrity through stringent legal measures.

Bitget Initiates Legal Action Against Eight Accounts for $20M VOXEL Token Manipulation

Bitget is pursuing legal measures against eight accounts implicated in the manipulation of the VOXEL token, which triggered an abnormal price surge and disrupted market stability. Jiayin Xie, the exchange’s head of Asia, disclosed on X that Bitget will issue legal letters to individuals suspected of illicitly profiting over $20 million from the incident.

The exchange plans to redistribute 100% of recovered funds to users via airdrops. Xie clarified that the targeted accounts belong to a coordinated group accused of orchestrating the VOXEL incident, allegedly extracting more than $20 million in improper gains.

Bitget Pursues Legal Action Against Users Profiting from VOXEL Trading Glitch

Cryptocurrency exchange Bitget is taking legal action against eight users who allegedly profited over $20 million from a trading glitch involving the VOXEL token. Executive Xie Jiayin identified the individuals as part of a coordinated "wool-pulling interest group" that exploited a system vulnerability.

The incident occurred on April 20 when VOXEL, a lesser-known gaming token, surged over 200% due to technical issues. Bitget plans to issue lawyer’s letters to the accused accounts, claiming they were the main instigators of the incident.