- Bitget noticed something strange happening with the VOXEL/USDT trading between 4:00 PM and 4:30 PM (their local time) on April 20, 2025.
- In order to give compensation for traders lost funds during VOXELUSDT contract positions during the critical 30-minute frame.
- Bitget claims that the platform will recover 100% of the funds and will distribute them in the form of airdrops.
Bitget spotted unusual activity in the VOXELUSDT contract between 16:00 and 16:30 (UTC+8) on April 20, 2025. The platform quickly responded to this abnormal activity with an anti-trade system. The exchange made all the efforts to protect its users, including suspending trading, deposits, and withdrawals. All these measures were a part of making funds secure in any way.
Following the bad actors activity, Bitget ran its comprehensive approach for risk control measures within 24 hours. The platform also ensures that the targeted accounts will be restored once the investigation has its final wrap. More favorably, the company promised compensation for users who suffered in VOXELUSDT contract positions during the critical 30-minute window.
On April 27, Xie Jiayin, a leader at Bitget in China, spoke publicly on the social media platform X. He said that Bitget plans to send legal warning letters to eight accounts. They believe these accounts tried to mess with the market unfairly. Through the unfair trading, these groups made over 20 million dollars illegally.
Bitget Promised 100% Fund Recovery
Bitget promised it would give back 100% of the funds that were wrongly taken by sending them out to users through airdrops (free token giveaways). Also, if someone traded VOXEL between 4:00 PM and 4:30 PM on April 20 and then took their money out, they were not blamed for anything. Their accounts were fully fixed and back to normal by Wednesday, and they don’t owe anything.
On the same day, Bitget highlighted plans to release a detailed accident report to present a full and transparent account of the VOXEL incident.
“I saw that some communities were discussing the lawyer’s letter from BG. After verifying it, I want to clarify a few details with everyone,” stated Xie Jiayin.
Bitget’s technical team was very important during a tough time. They worked hard to fix the problems with user accounts. Step by step, they reversed bad trades and got trading, deposits, and withdrawals working again. Because they acted quickly, it showed that Bitget was serious about fixing the situation and earning back users’ trust.
Compensation Offered After $20M VOXEL Incident
During the VOXEL incident, some users had problems with their accounts and got liquidated (their trades were closed automatically at a loss). The company said it would take full responsibility for this. If you lost money because of VOXELUSDT trades, Bitget asked you to contact their customer service and send in a request (called a work order) so they could give you the right compensation.
Bitget said it will keep working to make its systems safer. They plan to add stronger security rules to stop problems from happening again and to make sure everyone can trade more safely in the future. As the investigation is finishing and people are starting to get compensated, everyone is waiting for the full report that will explain more details about the $20 million VOXEL case.
