Bitget uses 'litigation' as a pressure tool, seemingly forcing arbitrage accounts to return part of the profits to quickly cut losses, while restoring brand credibility through a transparent compensation mechanism and public relations.
The most important thing is to avoid pushing the matter to a truly public court trial stage, to prevent completely exposing the platform's risk control failures, leading to a more serious brand crisis.
This is also why we see Bitget now both making harsh statements (wanting to sue) and actively compensating users (stabilizing public opinion), likely aiming for 'settlement' as the final outcome.
Can Bitget really win in court?
Do you really want to fight? It's difficult. If Bitget wants to win, it must prove that these 8 people have:
• Conspiracy
• Collusion
• Knowingly exploiting a bug for profit
Moreover, it needs to clarify which country's laws apply. These arbitragers are likely all Chinese, and cross-border law enforcement is super difficult; Bitget is not the FBI, how to proceed? 😂
Filing a lawsuit is not as simple as issuing a statement. It could take two or three years, the evidence chain must be complete, lawyer fees are exorbitant, and it could end in utter failure. But there’s no choice 👐.