In a surprising turn of events, a little-known VOXEL trading pair on the cryptocurrency exchange Bitget witnessed an unprecedented surge, surpassing $12 billion in volume on April 20. This surge far outstripped the metrics of the same contract on Binance, drawing attention to the VOXEL/USDT perpetual futures market. Traders reported instant order fills, which many attributed to a bug allowing them to exploit unusual price behavior for significant profits. Following an investigation, Bitget suspended accounts suspected of market manipulation and rolled back irregular trades while compensating traders who suffered losses. Despite the swift response, questions remain about how exchanges manage market makers, internal systems, and user safeguards. Bitget, known for its global market maker program, has not disclosed the individuals behind the anomaly or the technical factors involved. This incident adds to the speculation surrounding similar breakdowns on Binance, where market manipulations led to sudden price crashes for certain cryptocurrencies. The lack of transparency in disclosing details only fuels the industry’s rumor mill. The broader issue of market manipulation in the cryptocurrency sector has been a growing concern, with recent cases on various exchanges highlighting vulnerabilities. The incident on Bitget underscores the need for increased vigilance and transparency to maintain trust in the industry amid such exploits.