#TariffPause
Bitget Takes Legal Action Over Alleged $20M Manipulation of Gaming Tokens
Bitget has vowed to airdrop the recovered funds to users as questions swirl around the cause of the exploit.
In brief
Bitget is pursuing legal action against eight accounts linked to a "professional arbitrage group."
A VOXEL trading surge triggered suspicions of alleged market manipulation.
The incident raises fresh concerns over risk controls and market integrity in the industry.
Crypto exchange Bitget is taking legal action against eight accounts it accuses of manipulating VOXEL token trading and profiting more than $20 million during a trading surge on April 20.
Bitget’s Chinese representative, Jiayin Xie, said on X on Saturday that legal letters had been sent to the accounts, believed to be part of a "professional arbitrage group."
Victoria, Seychelles-headquartered Bitget said it will distribute all recovered funds to its users through an airdrop.
The announcement follows an episode last week when the price of VOXEL—the native token of Polygon-based game Voxie Tactics—exploded in volume.