Bitget’s hybrid custody model faced significant criticism from users after the VOXEL incident in April 2025, with community members arguing that the system exposed users to systemic risks, facilitated market manipulation, and breached trader trust through forced contract settlements.

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In addition, the platform’s hybrid custody model has come under fire following the incident. An analyst argued that the hybrid model places users at systemic risk and that no limits on position size invite market manipulation.
Some have argued that the exchange’s decision to settle VOXEL contracts at discounted rates forcibly breached user trust.