Bitget Temporarily Suspends VOXELUSDT Accounts Over Abnormal Trading – Coincu

Bitget has temporarily suspended certain trading accounts tied to the VOXELUSDT contract due to market manipulation from April 20, 2025, 16:00 to 16:30 UTC+8.

This incident highlights ongoing risks in crypto trading manipulation, prompting Bitget to optimize its risk controls while reaffirming its commitment to user security.

Bitget Identifies Abnormal Trading in VOXELUSDT

During the specified period, Bitget identified unusual trading volumes and pricing anomalies with VOXELUSDT. Some user actions activated Bitget’s risk management protocols, necessitating the suspension of the implicated accounts. Bitget has assured users that platform funds are not at risk. Keen to preserve a balanced trading atmosphere, Bitget continues to implement preemptive measures and plans to compensate traders impacted by specific losses.

Bitget’s Head, Xie Jiayin, publicly acknowledged the situation and supported affected users through compensation efforts.

“The technical team is working hard to follow up on the affected accounts. Some accounts have gradually completed transaction rollbacks and restored trading, deposit, and withdrawal functions. If users face liquidation due to account restrictions today, we will take full responsibility. Users who actively participated in trading and incurred losses on the VOXELUSDT contract positions between 16:00 and 16:30 on April 20 will receive appropriate compensation.” – Xie Jiayin, Head of Bitget China

Market Analysis: VOXELUSDT’s Volatility and Price Impact

Did you know? Abnormal trading halted VOXELUSDT volatility, resembling past Bitget interventions that led to tighter risk management across crypto exchanges.

CoinMarketCap data shows Voxies (VOXEL) trades at $0.08, experiencing a 38.46% drop in 24 hours. Despite this, VOXEL’s price surged by 222.39% over the last seven days. Current market cap stands at 19,246,190, with a trading volume decline of 44.58% to 250,897,142.

The Coincu research team foresees that enhanced risk controls could result in fewer trading disruptions and a more resilient market ecosystem. Prior incidents have demonstrated that such proactive measures often lead to strengthened user confidence and platform reliability.