Bitget announces VOXEL transaction rollback! The user will be compensated for the loss

Cryptocurrency exchange Bitget recently announced that it will roll back transactions during this period due to abnormal trading fluctuations in the VOXEL contract market and propose compensation plans. However, the use of the statement "user manipulates the market" in the official announcement has caused doubts about its improper handling of public relations, fearing that this will lead to further expansion of the crisis.

Bitget VOXEL tokens are trading abnormally, causing internal market making concerns

From 8:00 to 8:30 am yesterday, the Bitget Exchange broke out with an abnormal trading event of VOXEL tokens. The trading volume during this period even exceeded Bitcoin for a time, causing high doubts about the transparency of its internal operations. After the incident occurred due to the violent fluctuation of the price of VOXEL tokens, the community began to question Bitget's possible internal market making behavior and suspected of manipulating market prices.

Ironically, Bitget CEO Gracy has previously publicly criticized Hyperliquid's approach in dealing with abnormal fluctuations in JELLY tokens, saying that it is immature and unprofessional. Now it has trapped Bitget itself in similar controversies, arousing market disgust and ridicule. The community strongly requires Bitget to disclose complete transaction data to prove its fairness and restore the truth of the incident.

Bitget announces transaction rollback, loss users will be compensated

In a later announcement, Bitget stated that some accounts "may involve market manipulation", triggering the platform's risk control system and temporarily freezing the transaction, withdrawal and deposit functions of the accounts involved. For all users who participate in VOXEL contract transactions and suffer losses during the above period, Bitget promises to roll back abnormal transactions within 24 hours and provide compensation plans. Affected users can appeal to the official customer service: In order to ensure a fair and safe trading environment, we will initiate an abnormal transaction rollback mechanism, and at the same time strengthen the risk control system to avoid similar incidents from happening again.

Announcement Demonstration: How to anger users in one sentence?

However, the use of the term "user manipulates the market" in the announcement has sparked criticism from outsiders. Colin Wu, editor-in-chief of the media "Wu Shuo Blockchain", pointed out that such wording may trigger a second public opinion crisis: unless very detailed evidence can be provided, the finger should not be pointed at the user rashly, but should be more cautious about using "market makers' operational mistakes" as an argument, and express apologies and commitments to the user for compensation.

Such comments have also sparked heated discussions in the community. Many users believe that Bitget's handling this time did not meet expectations, and even doubted whether it tried to shirk responsibility and did not dare to offend market makers.

Encryption KOL@0xDy_eth revealed that some users made a profit of up to six figures on VOXEL trading pairs at a cost of less than $100, and suspected that Bitget's market maker had a vulnerability. But as the transaction will be rolled back, its profits may also be "a short game".

Public relations crisis sounds the alarm bell, and word processing becomes the key

This incident once again highlights the importance of crisis handling and public relations expression in the face of abnormal market volatility. Colin Wu admitted that if the content of the Bitget announcement is decided by senior management, even if the PR team handles it professionally, it will be difficult to stop the wrong decisions "from top to bottom" and may even be replaced due to counter-trend communication: the most important thing about a public relations crisis is the first-time response and wording. Once it is not properly handled, it is easy to cause a series of explosions.

Bitget's storm not only awakens the hidden worries and risks of its own market making within the exchange, but will also become an important vigilance and reference for other exchanges when dealing with similar situations.

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