BitGet Launches Probe Into Trading Bot Glitch That Caused VOXEL Trading Volume to Surpass Bitcoin

Cryptocurrency exchange BitGet has initiated a thorough investigation into an anomalous trading bot malfunction that resulted in VOXEL’s 24-hour trading volume exceeding that of Bitcoin temporarily. The incident, which occurred on April 21, 2025, has raised questions about exchange safeguards against algorithmic trading errors. Market analysts observed unusual price volatility in VOXEL pairs during the event, with the token experiencing rapid but short-lived price appreciation. BitGet’s risk management team is working to identify the root cause while assuring users that all funds remain secure. This event highlights the growing challenges exchanges face in monitoring automated trading systems as crypto markets become increasingly algorithmic.

BitGet says the incident is under investigation

Meanwhile, BitGet has acknowledged the abnormal trading and is investigating the incident. The exchange spokesperson Xie Jiayin said on X that the issue did not affect any other functions on the platform.

He said:

“We will synchronize more specific information as soon as possible. Some users may be subject to risk control. If you have any questions, please contact the online customer service in the App. Currently #Bitget trading, deposit and withdrawal functions are all normal.”

The spokesperson added that every platform experiences issues and challenges such as this during its development phase, but how they resolve those matters is key. He promised the investigation report would be available within 24 hours.

Nevertheless, the exchange has temporarily suspended all these functions for some accounts it claimed engaged in market manipulation during the incident. An update from BitGet claimed that this market manipulation triggered its risk control systems.

It said:

“Certain accounts were found to have potentially engaged in market manipulation, triggering our risk control system. Affected accounts have been temporarily suspended from trading, deposit, and withdrawal functions.”

The exchange added that it would restore the function for these accounts over the next 24 hours and roll back all the irregular trades that occurred within that period. Those who traded the VOXEL/USDT contract within that period will receive compensation.

Crypto community criticizes BitGet

However, the decision to temporarily suspend function for accounts, unilaterally roll back profits, and forcibly settle VOXEL positions has attracted criticism from many who believe it sets a dangerous precedent.

One user, Cody, said the exchange handling of the incident was immature and unprofessional, while also criticizing its hybrid custodial risk pool.

He wrote:

“Its handling of VOXEL incidents was immature, unethical, and unprofessional, resulting in user losses and raising serious doubts about its integrity.”

Cody’s comment appears to be aimed at BitGet CEO Gracy Chen, who criticized decentralized exchange Hyperliquid with similar statements a few months ago. However, it echoes the opinion of many users who believe the exchange is blaming them for its fault.

One user noted that retail users did not manipulate the market, and the issue was clearly from the market makers. They warned BitGet that it could lose users because of how it handled the incident.

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