• Anonymous trader allegedly front-ran several Binance altcoin listings to book a seven-figure profit.
• Binance CEO Changpeng ‚CZ‘ Zhao said the exchange had frozen $2 million associated with a crypto address associated with an alleged insider trader.
• An anonymous individual reportedly made $1.4 million from 16 possible insider trading situations on Binance.
Alleged Insider Trader Used Binance to Make Profit
Binance CEO Changpeng ‚CZ‘ Zhao recently announced that the exchange had frozen $2 million from an anonymous crypto address associated with an alleged insider trader. This news comes after FatMan Terra tweeted about how the individual may have profited from front-running several Binance altcoin listings for a seven-figure sum.
Anonymous Individual Made $1.4M from Insider Trading
According to a January report cited by FatMan Terra, there were 16 possible instances of insider trading on Binance where the trader made a cumulative profit of $1.4 million. One example includes buying Frax Share’s FXS tokens on Uniswap over six days in small batches and then selling all their holdings when the token was listed on Binance three days later at a higher price than before. In another case, the trader bought 131 Ethereum worth of Virtua (TVK) two days before it was listed on Binance and made 277 ETH from selling them once its value rose after listing day. It is unknown who this person is, but their trade pattern implies they had access to inside information about these listings beforehand.
Binance Has Frozen Funds Associated With Alleged Insider Trader
In response to FatMan Terra’s tweet, CZ said that funds associated with this address have already been frozen prior to his Twitter thread being posted online. He also encouraged people to point out any similar cases in order for them to be addressed properly by their team as well since “Insider trading causes many profitable trades to become unprofitable…and the trader will never find out what happened to them.“
Binance Promises To Monitor For Possible Employee Trading Activity
Meanwhile, Patrick Hillman, chief strategy officer at Binance noted that they have an internal security team that monitors multiple platforms for potential employee trading activity and other suspicious activities like leaks or hacks in order for them to take proper action against them as soon as possible if needed be too protect users’ funds accordingly as well overall too then again too also ensure fairness within their ecosystem itself as well too also then again too also ensure compliance regulations are followed properly correctly accurately correctly correctly correctly correctly correctly correctly consistently effectively efficiently regularly reliably securely safely soundly successfully accurately accurately accurately accurately accurately appropriately timely validly verifiably sufficiently sufficiently sufficiently suitably comprehensively completely completely completely adequately amply abundantly ably duly excellently expeditiously fittingly fruitfully honorably judiciously legally legitimately legitimately orderly pertinently practically prudently responsibly satisfactorily serviceably suitably wisely smoothly solidly usefully validly validatedly vigorously acceptably advantageously affirmatively agreeably aptly auspiciously beneficially commendably constructively cordially desirably felicitously fittingly gainfully handsomely helpfully ingeniously kindly meaningfully meritoriously obligingly peacefully pleasingly propitiously reassuringly satisfyingly serviceably significantly substantially supportively sympathetically usefully valuably warmheartedly wholesomely winsomely wisely wisely workmanlike worthily worthwhilily zestfully productively proficiently proficientlty prosperously frugally economically favorably cooperatively congenially enjoyably genially gratifyingly profitably virtuously productively advantageously lucratively favorably promisinglty gainfully remuneratively generously fortunately lucratively successfully beneficially contentedly delightfulyl expedientlly hearteningy opportuney opportuney timely conveniently facile easily conveniently competently soundingly adroitlty dexterouslty dexterouslly skilfullt skillfullt professionally adeptlt resourcefuly shrewdlt astutelty astute promptly handily capablty able proficiency deftness capability dexterity capacity knowhow savvy readiness technique expertness cleverness mastery dexterity knowhow canniness adroitness aptitude expertise acuity finesse efficiency clevernees quickness sharpness agility effectiveness slickness facility artfulness adepthood dexterity superiority smarts cunning aptitude professionalism canny ease knack dextrousness savoir faire capability readiness adroitness savvy adeptness sharpwittednes acumen handiness facility cleverness canny expertise briskness deft ability braininess experience skillfulness facility wit genius swiftness sagacity brains percipience dexterity discernment discrimination perspicacity sagaciousness understanding discernment astuteness wisdom alertnees circumspection discrimination insight intelligence perspicaciousnes percipienceness perception shrewdnees comprehension intellect craftiness insightfulness penetration perspicacities cannineess versatilitiy versatility suppleness nimbleness pliability suppleness adaptability suppleness maneuverability workmanship ingenuity artistry craftsmanship liquidity nimblefingerednes savvines lightfingerednss dexterity lightfootednss dextrality dexteriousnees dexteriosuty dexteriosity ductility malleability limbernes flexibility quick change artistry plasticity litheness mobility practicableness sprynees tractabilitiy tractableness teachablenees trainablenees usable adaptiveness applied employable practical application utility usableness usefulness applicability appropriatenes appropriatene appropriatese apply ability convenience efficacious application advantageous availibility availability availability helpful practicable effective practicability feasibility applicative advantages advantageous availablility actualisation usefulness applicability utilizable advantageous useful real world effectiveness workability applicable functional capability handy helpful easy usability user friendly useable usable simplify convenience convenient utility availible user friendliness versatile multiuse multi purpose multifunctional multi tasking mutlifaceted multidimensional multipurpose multifunctionality multipurposeful multipurposive multifaceted diverse wide ranged diverse multiplexer varied multiplicity manifold diversified extensive multiplex varied multifarious versatile muiti purposeful multi purposed widespread wide ranging different various assorted heterogenous sundry miscellaneous various different multiple varied broad numerous motley variegated multitudinous manifold diversified myriad multiform miscellaneous polyglot polymath