{"id":542458,"date":"2023-01-23T12:33:47","date_gmt":"2023-01-23T09:33:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/token-dump-following-binance-listing-raises-insider-trading-suspicions\/"},"modified":"2023-01-23T12:33:47","modified_gmt":"2023-01-23T09:33:47","slug":"token-dump-following-binance-listing-raises-insider-trading-suspicions","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/token-dump-following-binance-listing-raises-insider-trading-suspicions\/","title":{"rendered":"# Token dump following Binance listing raises insider trading suspicions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a370b5152f76\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a370b5152f76\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/token-dump-following-binance-listing-raises-insider-trading-suspicions\/#%E2%80%9D_Token_dump_following_Binance_listing_raises_insider_trading_suspicions_%E2%80%9C\" >&#8221; Token dump following Binance listing raises insider trading suspicions &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Token_dump_following_Binance_listing_raises_insider_trading_suspicions_%E2%80%9C\"><\/span>&#8221; Token dump following Binance listing raises insider trading suspicions &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Insider trading has become a burning topic in the crypto ecosystem, especially in light of the recent conviction of an ex-Coinbase manager\u2019s 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.<\/p>\n<p>Conor Grogan, director of Coinbase, took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> 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.<\/p>\n<p>The first such instance came in the form of Rar tokens where one of these wallets bought $900,000 in Rari seconds before and dumped them minutes after listing. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears that there is a pattern of Binance front-running over 18+ months<\/p>\n<p>I found connected wallets that:<br \/>-Bought $900k Rari seconds before and dumped minutes after listing<br \/>-Bought ~78K ERN between June 17 and June 21 and sold right after listing announcement<br \/>-Did same w\/ TORN <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/yAolrfeHkO\">https:\/\/t.co\/yAolrfeHkO<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/VRq3vzfcgd\">pic.twitter.com\/VRq3vzfcgd<\/a><\/p>\n<p>\u2014 Conor (@jconorgrogan) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jconorgrogan\/status\/1617319827852431360?ref_src=twsrc%5Etfw\">January 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Another wallet starting with 0x20 bought about 78,000 ERN between June 17 and 21 and sold right after the listing announcement. A similar token dump was observed with TORN token, where one of the mentioned wallets bought hundreds of thousands of these tokens and sold them right after their listing announcement.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/e2e16cac-1945-40f7-8a65-0f05fbef548e.jfif\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Movement of ERN tokens post Binance listing. Source: Etherscan<\/em><\/figcaption><\/figure>\n<p>A similar pattern was observed before the RAMP token listing on Binance, where one of these wallets starting with 0xaf bought $500,000 of RAMP over a few days, before sending the tokens to Binance minutes after the listing announcement. The owner made a $100,000 profit on the trade. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/96eabbc4-bbcf-47d6-813c-eb1a629e965a.jfif\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Movement of RAMP tokens from suspected wallet post Binance listing. Source: Etherscan<\/em><\/figcaption><\/figure>\n<p>Another $100,000 payday came from Binance\u2019s GNO listing, with the owner of the wallet dumping the newly listed token on the market in the same fashion.<\/p>\n<p>The token dump right after its listing on Binance has profited these wallets hundreds of thousands of dollars. The trade\u2019s accuracy indicates that the wallet owner has access to insider information on these listings. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>\u2018Binance is the crypto market:\u2019 Arcane crowns the exchange 2022\u2019s winner<\/em><\/strong><\/p>\n<p>Grogan <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jconorgrogan\/status\/1617328130582249473?s=20&amp;t=IcCYHDMlzxrnaFDqnhfd5A\">speculated <\/a>that this could likely be from a \u201crogue 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.\u201d<\/p>\n<p>Binance recently revealed a 90-day token sale policy for employees, prohibiting them or their family members from selling any newly listed token in the mentioned time frame. Binance has not responded to Cointelegraph\u2019s request for comment.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/token-dump-following-binance-listing-raises-insider-trading-suspicions\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Token dump following Binance listing raises insider trading suspicions &#8220; Insider trading has become a burning topic in the crypto ecosystem, especially in light of the recent conviction of an ex-Coinbase manager\u2019s brother. The insider trading charges were believed to be the first involving cryptocurrency, and now another set of wallet addresses with transaction&#8230;<\/p>\n","protected":false},"author":1,"featured_media":542459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/b436cec0-e80c-4a49-bf37-097f3e4c47cf.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74894,74956,117,71407],"class_list":["post-542458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-blockchain","tag-coinbase","tag-business","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/542458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=542458"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/542458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/542459"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=542458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=542458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=542458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}