BitGet exchange experienced a significant drop in its native BGB token value, plummeting by 56% from $1.15 to $0.5344 on Oct.7 before partially recovering. The sudden volatility, lasting about ten minutes, raised concerns among traders, leading BitGet to announce a compensation plan for affected users. Despite rebounding to $0.9754 shortly after, questions lingered regarding the cause of the fluctuation. BitGet assured users of full compensation for any asset losses incurred during the event, promising a detailed plan within 24 hours and completion within 72 hours. The exchange emphasized its commitment to enhancing customer experience by optimizing margin positions, risk management measures, and liquidation mechanisms. While the exact trigger for the price movement remains unclear, potential factors such as low liquidity, market manipulation, or technical issues were speculated. Market conditions were described as 'sluggish,' possibly influenced by Asian holidays impacting trading activity and liquidity. Read more AI-generated news on: https://app.chaingpt.org/news