User losses will be minimized due to an upcoming compensation plan and rolling back accounts, Bitget CEO Gracy Chen told Cointelegraph.
Cryptocurrency exchange Bitget discovered “abnormal trading activity” on the VOXEL/USDT perpetual futures contract on April 20, between 8:00 to 8:30 UST, and paused accounts that the exchange suspected of market manipulation.
According to an April 20 announcement from the exchange, Bitget will roll back the accounts suspected of market manipulation within 24 hours, clawing back gains made from the trades.
Bitget CEO Gracy Chen told Cointelegraph the trades were between individual market participants and not the platform itself. Chen also said that the losses are not platform-wide and that user funds remain safe.
