Crypto Exchange Bitget will release eight letters of attorney about Voxel/USDT Trading Glitch.
The platform is also committed to a $ 20 million User recovery funds to pay the affected merchants.
The incident on April 20 resulted in Voxel tokenTrade trade volume of more than 200% to $ 12.7 billion, which exceeds Bitcoin's $ 4.76 billion volume on the same platform.
Anomaly has been reported due to a glitch in the bitget trading system, allowing users to make significant income within a narrow price range. Some entrepreneurs have reaped six figures of income by using only $ 100.
Since then, the exchange has been focused on Damage control and how it can pay users who have lost funds.
Bitget will share the found funds with users by AirDrops
The Bitget identified professional wool interest groups that were tied to eight accounts believed to be the main achievements of the Voxel incident. The groups are said to have been absorbing more than $ 20 million from the platform, and the Bitget claims that it will send legal letters to them in succession.
The platform also said it would distribute all recovered funds to users through airdrops. In addition, Bitget claimed that, with the exception of eight accounts, all users who exchanged Voxel between 16:00 and 16:30 on April 20 and removed their money would not be punished. And on Wednesday, the platform further stated that all account operations were fully restored.
Bitget also pledged to release a full accident report on the malfunction of the Voxel trading system.
However, some members of the community are not satisfied with holding the bitget in the situation. In response to their updating, an x user Commented“If this is a normal transaction and not a bug caused by a technical attack, what's wrong with that? The right solution is to find the problem first yourself.” Another user Question Bitget to i -shut down if it does not manage its operations.
Additionally, a commentator warned the Bitget not to try to reduce funds from users who did not remove their money. He added, “Also, I say this: That's not easy to share 20 million, so don't think about it, retail investors.”
Bitget's hybrid custody model received many backlash following the Voxel incident
According to on-chain analyst Dylan, a malfunction in the bitget bot has repeatedly triggered trading within a narrow range of $ 0.125 to $ 0.138. Glitch has caused some users to earn a way -a thousand USDTs in just a few hours.
Following the incident, Bitget received many criticisms, which seemed to lose confidence in the community. Some have already argued the decision of the exchange to improve Voxel contracts with discount rates that force the user's confidence.
In addition, the platform's preservation model was undergoing a fire following the incident. An analyst argues that the hybrid model places users at a systematic risk and that there are no limitations on the size of the market manipulation position.
He also thinks Bitget's response to the Voxel incident is not yet, non -ethical, and unprofessional. He claimed the bitget runs more like an offshore CEX with simple KYC/AML requirements than an innovative centralized exchange.
Outside of controversy, the bitget remains one of the fastest growing exchanges. The platform has over 100 million users worldwide and a sun -day -to -day trading volume of $ 20 billion. The project's native token, BGB, also grew stronger, showing investors in the project.
While the crypto space navigates the impact of Voxel Fiasco, the community is diligently to see if the exchange will stand by its promises to its users about compensation and legal offense.
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