- Traders purchased 6193.46 Rocket Pool tokens 10 minutes before Binance’s listing announcement.
- Within 20 minutes of purchasing RPL tokens, investors reduced their holdings and made a profit of $55,397.
- Binance employees cannot participate in personal short-term trading or hold positions for a minimum of 90 days to prevent insider trading.
A mysterious wallet scooped up Rocket Pool (RPL) tokens ahead of Binance’s listing announcement. The exchange’s policy to combat insider trading requires employees and immediate family members to hold positions for a minimum of 90 days. Investors said he made a profit of $55,400 in 20 minutes.
Mysterious Trader Earns $55,400 in Quick Trades on Binance Announcement List
An anonymous wallet holder purchased Rocket Pool (RPL) tokens 10 minutes before the listing announcement on Binance’s Innovation Zone.
Anonymous wallet holders scooped up RPL tokens and sold their holdings within the first 10 minutes of the listing announcement, collecting a profit of $55,400. The trader’s purchase of his 6193.46 RPL token was noted by a crypto expert on Twitter after examining the trades for signs of insider trading.
On January 10th, Binance co-founder He Yi shared details about the exchange’s insider trading policy. Yi argued that Binance employees of any rank are not allowed to participate in personal short-term trading and must hold positions for a minimum of 90 days.
An investor used Uniswap to exchange 190,000 USDT for 190,024 USDC. These funds were used to purchase 5,833 RPL. An anonymous wallet owner also traded 10,000 USDT and purchased an additional 209.49 RPL 10 minutes before Binance’s listing announcement.
Announcing RPL Listing on Binance
After waiting 20 minutes, the trader exchanged his holding of RPL tokens for 162.06 ETH and pocketed 255,397 USDT, the profit from the transaction.
