Crypto Exchange Bitget Seeks Damages After VOXEL Trading Glitch

Bitget is taking legal action after uncovering a coordinated exploit that cost the exchange over $20 million.

According to executive Xie Jiayin, eight users allegedly formed a professional group that manipulated a system flaw tied to the VOXEL token.

The glitch, which occurred on April 20, caused VOXEL’s price to skyrocket over 200%, sending daily trading volume to nearly $13 billion — briefly surpassing Bitcoin’s activity on the platform.

Industry observers noted that some traders made outsized profits with investments as small as $100.

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In response, Bitget froze suspicious accounts, reversed transactions linked to the exploit, and pledged to redistribute any recovered funds to impacted users through an airdrop.

Legitimate VOXEL traders who operated between 16:00 and 16:30 UTC that day were assured their withdrawals would not be affected.

While Bitget hasn’t shared identities or detailed evidence yet, it plans to release a full report to explain the incident and restore user confidence. Meanwhile, VOXEL’s surge quickly faded; the token was last reported down 2%, trading around $0.07.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.