2 years ago
Blockchain researcher Lookonchain identified 2 crypto addresses that cumulatively made implicit $200,000 from Gains Network’s GNS token income aft it was listed connected Binance.
Lookonchain said the archetypal code bought 26,881 GNS tokens connected 1Inch swap for $208,335 and sold it for a nett of $106,747 wrong a fewer hours aft it was listed connected Binance.
Another wallet accumulated $500,000 worthy of GNS astatine an mean terms of $7.38. The wallet had started buying connected Feb. 8 and had purchased much tokens 20 minutes earlier Binance’s announcement.
This wallet reportedly sold implicit 11,000 GNS tokens for $125,975 aft the announcement, according to Lookonchain.
The transactions person drawn assorted reactions from assemblage members who alleged that the traders had inside information.
Binance was yet to respond to CryptoSlate’s petition for remark arsenic of property time.
Binance has a strict insider trading policy
Meanwhile, Binance has repeatedly stated that it has a strict policy towards insider trading.
Binance’s Chief Strategy Officer Patrick Hillman said the speech has “an interior information squad that monitors aggregate platforms for imaginable worker trading activity, and it is simply a zero-tolerance policy.”
The connection further corroborates a erstwhile 1 made by the exchange’s co-founder, He Yi. Yi said Binance employees aren’t “allowed to behaviour idiosyncratic short-term cryptocurrency transactions.” Yi added that the speech workers, careless of level, indispensable clasp their trading positions for astatine slightest 90 days earlier selling.
Binance CEO Changpeng Zhao has besides repeatedly said the speech would blacklist immoderate task that says it would beryllium listed connected the platform.
The station Two traders made implicit $200k from Binance’s Gain Network listing appeared archetypal connected CryptoSlate.
English (US) 