Bitget Takes Legal Action Against Traders Over VOXEL Market Manipulation

Cryptocurrency exchange Bitget has initiated legal proceedings against eight traders accused of manipulating the price of VOXEL perpetual futures contracts. The alleged market manipulation occurred on April 20, 2025, resulting in profits exceeding $20 million. Bitget’s head of Chinese operations, Xie Jiayin, confirmed that the exchange’s legal team is preparing to issue formal notices to the implicated parties. The targeted accounts were identified as the primary actors in the suspicious trading activity. This move underscores Bitget’s commitment to maintaining market integrity and protecting its users from fraudulent practices. The exchange has not disclosed further details about the ongoing legal process but emphasized its zero-tolerance policy towards market manipulation.

Bitget Initiates Legal Action Against Traders for VOXEL Price Manipulation

Cryptocurrency exchange Bitget is pursuing legal action against eight account holders accused of manipulating VOXEL perpetual futures contracts. The traders allegedly profited over $20 million during suspicious activity on 20 April 2025.

Xie Jiayin, Bitget’s head of Chinese operations, confirmed the exchange’s legal team will issue notices to implicated parties. The targeted accounts were identified as primary actors in the scheme, while uninvolved traders face no repercussions.

The incident marks Bitget’s latest effort to maintain market integrity, following detection of abnormal trading patterns in VOXEL/USDT pairs. Exchange surveillance systems flagged the manipulation attempt during peak trading hours.

Bitget and Avalanche Forge Strategic Alliance to Drive Web3 Ecosystem in India

Bitget, a top-tier cryptocurrency exchange and Web3 innovator, has entered a strategic partnership with Avalanche, the high-performance smart contracts platform. The collaboration aims to accelerate grassroots Web3 adoption across India by combining Bitget’s trading expertise with Avalanche’s blockchain infrastructure.

Avalanche is deepening its India presence through government-backed welfare projects and a developer grants program. Simultaneously, Bitget’s Blockchain4Youth initiative commits $10 million over five years for educational programs, with India as a key focus market. The alliance signals growing institutional interest in India’s digital asset potential.