Arkham Highlights Potential Insider Trading in Cryptocurrency

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by Giorgi Kostiuk

2 years ago

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  1. Investor Amplifies Initial Investment by 100 Times
  2. Understanding Binance’s Listing Policies
  3. Implications of Binance’s Listing Rules


    4. Arkham recently highlighted a significant event, raising suspicions of insider trading in the cryptocurrency market. Cryptocurrency protocols are barred from announcing their listings before Binance does, to prevent exploitation of this information.

    Investor Amplifies Initial Investment by 100 Times

    Some individuals act on presumed insider knowledge before listings, accumulating tokens and selling them when news drives up prices. Such wallet activities sometimes attract attention, prompting scrutiny of the involved protocols and exchanges. An investor using wallet address 0x6ac did precisely this. Arkham reported: 'This trader turned $16,500 into $1.8 million with Neiro. The trader bought Neiro for 5 ETH early on the second day after issuance. Profits soared after Binance announced its listing, with over 100x returns after an eight-week hold.'

    Understanding Binance’s Listing Policies

    Binance will investigate if this purchase occurred before the listing agreement. Binance enforces strict rules against insider trading; dissemination of such information can lead to severe penalties, including cancellation of listings. Binance’s former CEO has affirmed this policy.

    Implications of Binance’s Listing Rules

    * Only Binance can announce listings. * Listings disclosed before Binance may be canceled. * Social media pressures for listings can result in blacklisting. * Even scheduled listings can be canceled due to social media pressure.

    Thus, those claiming insider knowledge about Binance’s upcoming listings are either spreading falsehoods or risking cancellation of the listing.

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