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Bitget VOXEL Futures Manipulation April 2025

avoid.net/bitget-voxel-futures-manipulation-april-2025→14/100·82% conf.
[AI-DRAFTED · AWAITING FACT-CHECK]

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anchored·48XjNU…BwfK
last updated 2026-08-25

Summary

On April 20, 2025, eight accounts allegedly exploited a suspected flaw in Bitget's internal market-making bot during a 30-minute window, generating over $20 million in profits from anomalous price oscillations in the VOXEL/USDT perpetual futures market. Bitget unilaterally rolled back the affected trades within 24 hours and announced legal action against the eight accounts, while committing to compensate impacted users from recovered funds via airdrop. The incident drew particular scrutiny because Bitget's CEO had publicly criticized competitor Hyperliquid weeks earlier for conducting a similar trade reversal, creating a widely noted inconsistency.

Connected Entities

6 entities · 60 linked investigations
Organizations
□JELLY5□Bitget□Bitget VOXEL Futures Manipulation April 2025□Hyperliquid62
Tokens
♦Bitcoin62♦Cointelegraph62
Relationships
  • Hyperliquid→mentioned with→JELLY(70%)
  • Bitget VOXEL Futures Manipulation April 2025→mentioned with→Hyperliquid(70%)
  • Bitget VOXEL Futures Manipulation April 2025→mentioned with→Bitcoin(65%)
  • Bitget VOXEL Futures Manipulation April 2025→mentioned with→JELLY(70%)
  • Bitget VOXEL Futures Manipulation April 2025→mentioned with→Bitget(70%)
  • JELLY→mentioned with→Bitget(60%)
  • JELLY→mentioned with→Hyperliquid(80%)
  • Bitget→mentioned with→Bitcoin(60%)
  • Bitget VOXEL Futures Manipulation April 2025→mentioned with→Cointelegraph(70%)
Also appears in
Hyperliquid·62Hedera·55SafePal·42Kevin Rose·57Pond0x·18Swiss Bitcoin Pay·42BitMEX (2026 Class Action — Insider Trading and Liquidation Fraud)·10Ruslan Igorevich Tkachuk·2TraderTraitor / UNC4899·0Triple-A Treasury Hack (July 2026)·22

Connected Through

5 shared actors · 627 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about Bitget VOXEL Futures Manipulation April 2025?

Timeline(6 events)

March 2025

Hyperliquid delists the JELLY token perpetual contract and force-settles positions following alleged manipulation, drawing industry attention to exchange intervention precedents.

CoinTelegraph

7 April 2025

Bitget CEO Gracy Chen publicly criticizes Hyperliquid's JELLY handling, reportedly calling it 'immature, unethical, and unprofessional' and describing Hyperliquid as a 'fake DEX' posing 'FTX 2.0' risks.

Crypto Adventure / Rekt News

20 April 2025

Between 08:00 and 08:30 UTC, the VOXEL/USDT perpetual futures market on Bitget exhibits extreme price anomalies. VOXEL surges 130–200% in 30 minutes. Trading volume reaches $12.7 billion, exceeding Bitcoin's volume on the platform. Eight accounts allegedly extract over $20 million by exploiting the suspected market-maker bot flaw. Bitget freezes suspicious accounts and suspends the market.

CoinTelegraph / Bitget Official / The Block

20 April 2025

Bitget CEO Gracy Chen tells CoinTelegraph that 'the trades were between individual market participants and not the platform itself' and that 'losses are not platform-wide and user funds remain safe.' Bitget announces it will roll back affected trades within 24 hours and activate its $300 million protection fund.

CoinTelegraph

22 April 2025

Bitget announces that transaction rollbacks and account recoveries are 'basically completed' and that compensation for users who incurred losses is underway.

CryptoSlate

27 April 2025

Xie Jiayin, Bitget's head of Chinese operations, announces via X that the exchange's legal team will send letters to the eight implicated accounts 'in quick succession.' Bitget pledges to distribute 100% of recovered funds to affected users via airdrop.

CoinTelegraph / The Block
Provenance & Audit Trail
Anchored on SolanaVerify on-chain13 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 13 of 18 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 8/19/2026, 5:04:46 PM

last updated: 8/25/2026, 4:06:10 AM

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