Binance exchange employees suspected of insider trading

The company Santiment, which analyzes the digital asset market, suspected employees of a cryptocurrencyexchange Binance in insider trading. HCN writes about this.

Santiment employees wrote an ironic article undertitled “STG: A Tale of a Modern Nostradamus,” which highlighted suspicious trends associated with the listing of the virtual currency Stargate Finance (STG) on Binance, which took place on August 19.

Approximately 10 minutes before the publication of the announcementadding trading pairs with STG began to rapidly increase three key indicators: the number of active addresses, the coin rate and trading volume. And the “icing on the cake”, as Santiment experts put it, is the dynamics of changes in the number of wallets that held a lot of tokens (from 1000 to 1 million).

Before the announcement of the listing of the cryptocurrency, their number rapidly increased almost twice, and then fell by 42% within two days.

Change in the number of wallets that held from 1,000 to 1 million STG

Representatives of Santiment did not show employeesaccusations of insider trading among crypto exchanges due to lack of direct evidence. But, looking at the chart of the STG price dynamics, it becomes obvious that the unknown Nostradamus made good money by buying tokens on time.

In April, one of the “soothsayers” was discovered instaff of the Coinbase exchange. It turned out to be platform manager Ishan Wakha, who transmitted data to his accomplices about the integration of digital assets on the trading platform. Vakha’s accomplices purchased coins about a day before the listing and sold them when the rate reached its peak. As a result, they managed to earn about $1.5 million.