Voxies (Voxel), a little -known gaming token, jumped more than 200% within 24 hours on April 20 after a suspected dysfunction of the Bitget trading system.
The unexpected problem led to an explosive peak of activity, pushing the volume of negotiation of the Voxel / USDT contract to a jump of $ 12.7 billion. According to Coingecko data, this considerably exceeds the volume of $ 4.76 billion in Bitcoin on the same platform.
Bitget trading error would allow users to make six -digit profits
The unprecedented Spike drew attention to the cryptographic space, in particular since Voxel is a relatively obscure free blockchain game token with market capitalization of less than $ 30 million.
According to the analyst of the Dylan channel, the Bot Bitget has repeatedly executed transactions in the narrow price range from $ 0.125 to $ 0.138. Information merchants quickly made its way, using only $ 100 for the scalp profits exceeding six digits.
The reports suggest that the problem has allowed some users to leave with tens, even hundreds of thousands of USDT in a few hours.
In response, Bitget’s spokesperson Xie Jiayin confirmed that the platform was aware of irregular activity and launched an internal investigation. The company has also noted that the accounts allocated can face temporary restrictions, urging users to contact the application of the application for additional assistance.
“Each platform, at each stage of development, can meet challenges and uncertainties, but this is an inevitable part of the trip. Bitget will provide details of the event and resolution within 24 hours,” added Jiayin.
Meanwhile, the incident sparked criticism from market experts and traders, many of which question Bitget’s internal guarantees and technical maturity.
Several members of the community criticized Bitget’s response to the problem. Some have claimed that the decision of the exchange to strengthen Voxel contracts at reduced rape tariffs of user confidence. Bitget’s hybrid guard model also receives backlands after the incident.
“The design of platform products reveals defects: a hybrid retirement risk pool exposes users to systemic risks, and the positions of unrestricted position open the door to handling. If these problems are not solved, more altcoins could be armed against Bitget, which makes it the next catastrophic failure of the crypto space, “said an analyst.
Meanwhile, the moment of the incident is also notable. Voxel is currently listed on Binance’s “Voting To Delist” program. The campaign aims to improve transparency and give the community a voice in the lists of tokens.
Overall, the Bitget incident has amplified concerns about potential market manipulation involving the token and highlighted the wider risks linked to centralized exchanges.
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