Crypto exchange Bitget has initiated legal proceedings after alleging a suspected market manipulation scheme targeting gaming tokens, potentially causing $20 million in losses. The company reported “abnormal trading activities” with several gaming tokens before suspending certain accounts and freezing assets to investigate the suspected perpetrators. Bitget claims these manipulated trades artificially inflated token prices for rapid sell-offs, ultimately leading to sharp price declines across various gaming-related tokens listed on their platform. The exchange is working with law enforcement and blockchain analytics firms to identify those involved in this scheme and has vowed to protect customer assets while maintaining market integrity.