Blockchain researcher Lookonchain has identified two crypto addresses that have accumulated over $200,000 from Gains Network’s GNS token sale after being listed on Binance.

look on chain Said Originally purchased address 26,881 GNS token I traded at $208,335 on a 1 inch swap and sold it for a profit of $106,747 within hours of listing on Binance.

Another wallet accumulated $500,000 worth of GNS at an average price of $7.38. The wallet began buying him on February 8th, and he had purchased additional tokens 20 minutes before the Binance announcement.

this purse reportedly 11,000+ GNS tokens sold $125,975 after the announcement, according to Lookonchain.

The transaction has elicited mixed reactions from community members. Alleged That the trader had inside information.

Binance has yet to respond of crypto slate Request for comments at press time.

Binance has a strict insider trading policy

Meanwhile, Binance has repeatedly stated that it has strict policies against: insider trading.

Binance Chief Strategy Officer Patrick Hillman Said The exchange “has an internal security team that monitors multiple platforms for possible employee trading activity, which is a zero-tolerance policy.”

This statement further corroborates previous statements by exchange co-founder He Yi.stomach Said Binance employees are “not permitted to engage in personal, short-term cryptocurrency trading.” Yi added that any exchange employee, regardless of level, must hold a trading position for at least 90 days before selling.

Binance CEO Changpeng Zhao repeats Said Exchanges blacklist projects that they say will be listed on their platforms.

By Jules

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