Over the weekend, the VOXEL price flipped traditional crypto logic due to a malfunctioning trading bot, leading to a staggering 70% surge within 24 hours, peaking at 200% increase. This unexpected leap did not stem from any news or strategic partnerships but rather from a glitch that sent the bot into a trading frenzy.

The Bitget Bug That Triggered the Voxel Price Surge

The recent rise in VOXEL’s value resulted not from market innovation but rather from chaos triggered by a Bitget trading bot’s error. This bot, stuck in a faulty loop, traded VOXEL repeatedly within a narrow price range, inflating both its volume and price.

Opportunistic traders capitalized on this incident, some turning small investments into significant profits. As one trader described, “Bitget’s market-making bot has a bug,” highlighting the glitch’s implications.

People withdrawing funds from bitget following voxel bug, from which users made millions. View Tweet

Bitget hastily initiated steps to rectify the situation, promising reversed trades and compensation. However, skepticism loomed in the crypto community, especially regarding withdrawal freezes affecting users, particularly those in China, with criticism focused on the platform’s lack of robust trading safeguards.

What This Means for VOXEL Crypto

The skyrocketing VOXEL price quickly reversed, dropping back to $0.10, prompting discussions about whether the rapid increase was a reactionary attempt to prevent a Binance delisting or simply a glitch. Despite maintaining a $0.10 floor, doubts remain about VOXEL’s stability, signaling potential pitfalls for centralized exchanges plagued by fragile systems and poor risk management.

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Key Takeaways

• The VOXEL token, linked to Voxie Tactics on Polygon, saw an unexpected 70% price spike due to a bot glitch.
• The glitch created a synthetic demand, and traders capitalized on the chaos.
• Bitget is in the process of recompensing affected users amid criticism surrounding their trading operations.