An anonymous wallet address was used to purchase an astounding 6193.46 Rocket Pool (RPL) coins on Binance ahead of its announcement of the new listing on Innovation Zone.
The event sparked a heated debate in the crypto space.
Crypto insider trading?
The trade remains a mystery as the user bought the tokens 10 minutes before Binance made the announcement and sold them immediately after.
The trade lasted about 20 minutes and saw the user make a profit of $55,400. Surprisingly, the anonymous wallet address exclusively used USDT and ethereum (ETH) tokens, both of which were issued by OKX.
Recent updates from people familiar with the matter state that another wallet bought 5,353 RPL tokens at 188,000 USDC within 30 seconds of Binance’s announcement. The wallet earned around 15,000 USDC after the sale.
Binance announced its intentions to list RPL at 4:00 am UTC.
Binance’s strategy office head Patrick Hillmann quashed the insider trading claims. He has disclosed that, since 2021, the leading cryptocurrency exchange has a strict policy banning staff employees from selling holdings less than 90 days after buying the assets.
According to Hillmann, the bitcoin exchange has a workforce that adheres to this regulation. Despite this, the cryptocurrency industry is perplexed by the two wallets and their RPL transactions.