Bitget, a leading cryptocurrency derivatives exchange, has made a statement following an unusual increase in the trading volume of VOXEL/USDT contracts. VOXEL’s trading volume rose to $12.71 billion in a 24-hour period, significantly higher than Bitcoin’s $4.76 billion volume, raising suspicions of a possible bot malfunction or market manipulation. The exchange acknowledged the anomaly in an official statement, confirming that it detected “abnormal trading behavior” regarding the VOXEL/USDT contract and initiated an investigation. Bitget stated that some user accounts were temporarily restricted as part of risk control measures. Related News: Seasoned Analyst Reveals He Lost 60 Percent of All His Assets in Altcoins, Shares What He Will Do Next “During this period, some users’ activities triggered our risk control system and resulted in the suspension of trading, deposits, and withdrawals for the relevant accounts,” the company said. Bitget added that the affected transactions will be reversed within the next 24 hours. The decision to suspend user accounts and reverse transactions has sparked controversy within the crypto community, with users expressing concerns about centralized risk control mechanisms and the potential impact on trust in the platform. At the time of writing, Bitget has not provided further details on the cause of the anomalous activity or whether it was due to a technical glitch, such as a faulty trading bot, or intentional market manipulation. *This is not investment advice. Continue Reading: Major Cryptocurrency Exchange Investigating Manipulation in This Altcoin – Users Identified, Trades Will Be Reversed
