Bitget has launched compensation for users affected by transaction malfunctions, including permanent contracts for Voxel/USDT, following the unusual price action on April 20th.
On April 22nd, Bitget announced that transaction rollbacks and account recovery are “basically completed” and that rewards for users who suffered losses during a Voxel/USDT Perps incident are currently underway. The exchange also said it is conducting secondary internal reviews in response to user complaints regarding false fee deductions and inaccurate profit and loss calculations after rollback.
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The Voxel/USDT PERPS incident began around 8am on April 20th, with token voxels surged by more than 200% in just 30 minutes. With the spikes, Voxel has temporarily made its most traded assets on Bitget, peaking at $0.1645, exceeding the daily trading volume of Bitcoin (BTC).
Orders within that price range were immediately executed due to suspected activity of the market manufacturer. Under normal conditions, permanent futures contracts rely on order books where each trade requires a counterparty. However, in this case, the transaction appeared to bypass that process and ran automatically without delay.
In response, Bitget suspended transactions on Voxel/USDT contracts and frozen several accounts involved in anomalous activities. The exchange assured users that the incident was not caused by a system exploit or internal failure, but has yet to disclose the person responsible for Voxel futures activity on April 20th.
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Voxel is a native token for Voxie Tactics, a free-to-play tactical RPG that runs on the polygon (Matic) blockchain and acts as both a utility token and in-game currency, playing an important role in the game’s reward system and the entire economy.
Beyond the Bitget incident, Voxel has been in the spotlight recently, with explosive price action emerging as one of CoinmarketCap and Coingecko’s top trending tokens over the weekend. The token surged from just $0.02 on Friday to Sunday’s highs, tasting 750% pumps. However, it has since dropped to $0.06, but is up 200% from Friday’s low.
Source: TradingView
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