Reported by: Prashant Jha

Insider trading has become a burning topic in the crypto ecosystem, especially in light of the recent conviction of an ex-Coinbase manager’s brother. The insider trading charges were believed to be the first involving cryptocurrency, and now another set of wallet addresses with transaction history linked to Binance listings has raised suspicion.

Conor Grogan, director of Coinbase, took to Twitter to flag the transaction activity of a few anonymous wallets over the past 18 months. The anonymous wallets allegedly bought multiple unlisted tokens minutes before their listing announcement on Binance and dumped them right after the announcement.

The token dump right after its listing on Binance has profited these wallets hundreds of thousands of dollars. The trade’s accuracy indicates that the wallet owner has access to insider information on these listings. 

Grogan speculated that this could likely be from a “rogue employee connected to the listings team who would have details on new asset announcements or a trader who found some sort of API or staging /test trade exchange leak.”

Read full report: https://cointelegraph.com/news/token-dump-following-binance-listing-raises-insider-trading-suspicions/amp