Cryptocurrency exchange Bitget has detected irregular trading on the VOXEL/USDT perpetual futures contract on April 20, between 8:00 to 8:30 UTC, and has taken action against suspected market manipulation by pausing accounts. In an announcement on April 20, Bitget stated that it would roll back accounts suspected of market manipulation within 24 hours to nullify gains made from the trades. Bitget CEO Gracy Chen clarified that the trades were conducted by individual market participants and not the platform itself, ensuring that the losses were not platform-wide and user funds remained secure. The exchange plans to compensate users who suffered losses due to the alleged market manipulation and will release a compensation plan soon. Chen reassured users that Bitget’s $300 million protection fund would support users in such events, guaranteeing the security of user assets. This incident raises concerns about the responsibilities of exchanges when faced with trading abnormalities and electronic trading bugs, drawing comparisons to the Hyperliquid-Jelly exploit in March 2025. In response to the Hyperliquid incident, Bitget CEO criticized the exchange for delisting Jelly perpetual contracts and causing financial losses for users, emphasizing the importance of trust in exchanges. The fallout from these events underscores the importance of maintaining integrity and transparency in the cryptocurrency exchange ecosystem.