The post Bitget Investigates VOXEL Arbitrage, Aims for User Reimbursement – Coincu appeared on BitcoinEthereumNews.com.

Key Points: Bitget investigates $20M VOXEL arbitrage, plans user reimbursement. Legal action targets suspected arbitrage accounts. User funds to be returned via airdrops. Bitget is addressing over $20 million in improper VOXEL arbitrage by legal pursuit of involved accounts, announced Xie Jiayin on April 27. This incident highlights ongoing challenges in crypto exchange security, with Bitget responding by restoring affected users’ funds and reinforcing trust. Bitget’s $20M VOXEL Recovery Strategy Unveiled Bitget verified that eight accounts executed improper activities on VOXEL trading, totaling over $20 million in gains. Xie Jiayin confirmed legal measures to address these accounts, demonstrating Bitget’s commitment to transparency. Affected funds, once reclaimed, will be redistributed to users via airdrops. The incident emphasizes the need for stringent monitoring mechanisms within exchanges. By taking prompt legal action, Bitget reinforces operational integrity. Exchange functions have been restored, ensuring normalcy for uninvolved accounts. A complete report outlining the incident is forthcoming, as per Bitget’s official communication. Xie Jiayin, Chinese Head of Bitget, – “Bitget has verified the details of the VOXEL incident and confirmed it will send legal letters to 8 suspected professional arbitrage group accounts. The amount involved exceeds 20 million USD in improper gains. The recovered funds will be 100% airdropped back to platform users.” Source VOXEL Incident Spurs Calls for Tighter Crypto Regulation Did you know? Bitget’s swift legal response is a rare example of full restitution efforts after a crypto incident, demonstrating increased accountability measures in decentralized finance. According to CoinMarketCap, Voxies (VOXEL) shows varying trends: a 24-hour drop by 1.27% to $0.08, significantly affected by recent events. While its market cap stands at $18.41 million, the asset has witnessed a substantial 44.84% decline over the past 90 days, indicating volatility. Voxies(VOXEL), daily chart, screenshot on CoinMarketCap at 21:18 UTC on April 27, 2025. Source: CoinMarketCap…

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Filed under: News - @ April 27, 2025 9:24 pm