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Binance Employee Caught in Insider Trading Scandal – Massive Profits Exposed
In a shocking turn of events, Binance has announced the suspension of one of its employees for alleged insider trading violations. According to an official tweet post by Binance, the employee used confidential information from their previous role at BNB Chain to purchase tokens before a public announcement.
The investigation reveals that the employee utilized multiple wallet addresses to buy tokens before any official Token Generation Event (TGE) was announced. Once the project went public, they sold a portion of their holdings while keeping the rest for potential future gains.
Although Binance has not disclosed the employee’s name, it confirmed that they have been suspended immediately. The exchange also stated that it is working with legal authorities to ensure necessary actions are taken.
As part of its efforts to maintain integrity and fairness in crypto trading, Binance rewarded four whistleblowers with $100,000 for reporting the misconduct through its official channel.
A suspected Binance employee, allegedly linked to a wallet under the name Freddie Ng, made a profit of $113,000 by trading UUU tokens on Binance Smart Chain (BSC).
Source: https://coinpedia.org/news/binance-employee-caught-in-insider-trading-scandal-massive-profits-exposed/
