Crypto exchange Bitget will reverse trades and compensate users after an episode of abnormal activity in its perpetual futures market

The incident, which unfolded early Sunday, involved VOXEL, a token tied to the Polygon-based role-playing game Voxie Tactics.

Crypto exchange Bitget will roll back trades and compensate affected users after an episode of abnormal activity in its perpetual futures market sparked discussion among traders.

The incident, which unfolded early Sunday, involved VOXEL, a token linked to the Polygon (CRYPTO: MATIC)-based role-playing game Voxie Tactics.

The token’s trading volume briefly surpassed that of Bitcoin (CRYPTO: BTC), the largest and most liquid cryptocurrency. VOXEL, currently ranked 723rd by market capitalization according to CoinMarketCap, has shot up more than 300% in the past week.

The dramatic spike raised concerns within Bitget, triggering an internal investigation. The platform determined that certain accounts may have attempted to manipulate the market, leading to sudden and extreme price movements in VOXEL futures contracts.

In response, Bitget suspended trading, deposits and withdrawals for the flagged accounts. It added that all other users remain unaffected and user funds are secure.

“Upon investigation, certain accounts were found to have potentially engaged in market manipulation, triggering our risk control system,” Bitget said in a statement.

Bitget’s team is now working to reverse trades linked to the anomaly. It will also provide compensation to users impacted by the incident. The company has not disclosed the total value of affected trades or provided a time frame for full resolution.

While not a mainstream token, VOXEL has drawn attention for its connection with the game. Voxie Tactics is a tactical RPG game where players can earn cryptocurrency rewards.

However, the volume increase in futures appears large compared to the token’s usual market presence.

The incident underscores the risks of trading lightly regulated or low-liquidity digital assets on leveraged products such as perpetual futures. It also highlights the challenges for exchanges in maintaining orderly trading environments and protecting user interests.