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Bitget VOXEL Futures Manipulation April 2026

avoid.net/bitget-voxel-futures-manipulation-april-2026→16/100·82% conf.
[AI-DRAFTED · AWAITING FACT-CHECK]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·4fQZZd…aViJ
last updated 2026-08-25

Summary

On April 20, 2025, Bitget's VOXEL/USDT perpetual futures market experienced severe price and volume anomalies reportedly triggered by a malfunction in the exchange's proprietary market-making bot. Eight accounts allegedly exploited the bot's predictable trade pattern to extract profits exceeding $20 million from a roughly $100 million impact event before Bitget froze accounts and unilaterally reversed completed trades. The rollback drew widespread criticism, in part because Bitget CEO Gracy Chen had publicly condemned competitor Hyperliquid for conducting a structurally similar trade reversal just weeks earlier.

Connected Entities

5 entities · 60 linked investigations
Organizations
□Bitget□Bitget VOXEL Futures Manipulation April 2026□Hyperliquid62
Tokens
♦Bitcoin62♦Cointelegraph62
Relationships
  • Bitget VOXEL Futures Manipulation April 2026→mentioned with→Hyperliquid(80%)
  • Bitget VOXEL Futures Manipulation April 2026→mentioned with→Bitcoin(65%)
  • Bitget VOXEL Futures Manipulation April 2026→mentioned with→Bitget(70%)
  • Bitget→mentioned with→Bitcoin(60%)
  • Bitget VOXEL Futures Manipulation April 2026→mentioned with→Cointelegraph(70%)
Also appears in
Bitcoin·62Axiom·27Lendf.me·30Shibarium·28Ruslan Igorevich Tkachuk·2SafePal·42Playsomo·60Bitcoin Xchange (Syria-based, ISIS-Linked)·0Abdelhakim Boukich·0Kevin Rose·57

Connected Through

4 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 2026?

Timeline(6 events)

26 March 2025

Bitget CEO Gracy Chen publicly criticized Hyperliquid for delisting the JELLY perpetual contract and force-settling positions during a manipulation event, writing that the action sets a dangerous precedent and that trust — not capital — is the foundation of any exchange.

CoinTelegraph

20 April 2025

Between 08:00 and 08:30 UTC, abnormal trading activity erupted on Bitget's VOXEL/USDT perpetual futures contract. Trading volume reached $12.72 billion in 24 hours, exceeding Bitcoin's perpetual volume on the platform. VOXEL price rose over 138% intraday. Bitget's market-making bot allegedly entered a degenerate execution loop between $0.125 and $0.138.

Bitget Official Support Notice

20 April 2025

Bitget froze accounts suspected of market manipulation, suspending trading, deposit, and withdrawal access. CEO Gracy Chen told CoinTelegraph that user funds were fully secure and pledged compensation from the exchange's $300 million protection fund.

CoinTelegraph

21 April 2025

Bitget announced it would roll back irregular trades within 24 hours and initiate a compensation plan for users who suffered losses during the 08:00–08:30 UTC window on April 20.

The Block

22 April 2025

Bitget stated that transaction rollbacks and account recoveries were basically completed and that compensation for affected users was underway.

CryptoSlate

27 April 2025

Xie Jiayin, Bitget's head of Chinese operations, announced the exchange would issue lawyer's letters to eight accounts identified as the primary instigators. Bitget alleged the group improperly profited over $20 million and pledged to distribute 100% of any recovered funds via airdrop to affected users.

The Block; CoinTelegraph
Provenance & Audit Trail
Anchored on SolanaVerify on-chain15 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 15 of 18 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 8/19/2026, 11:08:31 PM

last updated: 8/25/2026, 7:21:48 AM

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