Bitget Targets 8 Accounts Over $20M VOXEL Profits

Bitget, a prominent cryptocurrency exchange, has announced that it will be sending out eight legal letters to accounts suspected of illegitimate profits exceeding 20 million US dollars. The exchange's Chinese head, Xie Jiayin, clarified the details in a post on the X platform. According to Xie, the eight accounts in question are believed to be professional scalping interest groups that were the main instigators of the VOXEL incident. These groups are alleged to have improperly benefited from the incident, accumulating profits that surpass 20 million US dollars.

Bitget has assured its users that the recovered funds from these accounts will be 100% airdropped back to the platform users. This move is aimed at restoring trust and ensuring that legitimate users are not affected by the actions of these suspected groups. Xie also emphasized that all other users who participated in VOXEL trading from 16:00 to 16:30 on April 20 and have withdrawn their funds do not need to worry. These accounts have been restored to normal and will not face any future accountability.

In addition to addressing the concerns of its users, Bitget has announced that it will soon release a complete incident report on the VOXEL incident. This report is expected to reveal the truth behind the incident and provide transparency to the community. The exchange's proactive approach in handling the situation demonstrates its commitment to maintaining the integrity of its platform and protecting the interests of its users.

This development underscores the ongoing challenges faced by cryptocurrency exchanges in dealing with market manipulation and illegal activities. By taking decisive action against the suspected accounts and ensuring that the recovered funds are returned to the users, Bitget is setting a precedent for how such issues should be addressed in the industry. The exchange's transparency and commitment to user protection are likely to bolster confidence in its platform and attract more users in the future.