Insiders Leak Binance Listings for $PNUT and $ACT
Insiders leaked information on memecoins $PNUT and $ACT before they were listed on Binance.
Insiders leaked information on memecoins $PNUT and $ACT before they were listed on Binance.
darwizzynft
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Memecoins $PNUT and $ACT were listed on Binance, both with their market caps below $100M at the time of listing.
Hours later, $PNUT surged up 300%, whilst $ACT hit a market cap above $600M.
Although it’s not uncommon for Binance to list a ‘small cap’ token, these listings sparked curiosity about the reasons and criteria behind the decision, especially because both $PNUT and $ACT have been around for less than a month.
Furthermore, it has been found that there seems to have been multiple cases of insider information being leaked with proof of them being shared, as well as insider wallets that started aggressively buying $PNUT and $ACT, just hours before the official announcement.
One of the most notable cases being a potential insider trader by the name of @BashKOsman who had allegedly been told by someone at a ‘major tier 1 CEX’ that $PNUT was going to be making a big move. This information was posted on X (see the post below).
Many assumed this would be a Binance listing; and this in fact turned out to be true.
Several questions were raised, and Crypto Twitter/X quickly accused @BashKOsman of having received insider information on $PNUT being listed on Binance. @BashKOsman has since deleted the tweet, and deactivated his X account.
But he wasn’t the only one…
As seen in the image above (taken from this post on X), insider information had been shared between traders, with hints like ‘load up before tomorrow’ and ‘pnut is alpha alpha’.
It’s clear that there were many insiders trading and sharing information about $PNUT and $ACT being listed on Binance. It’s unclear whether or not these insiders will be investigated or not, but we can expect some sort of investigation on those who went public with the information.
Insider trading isn’t new to Crypto, so it’s not a huge shock to see this happen. However, it is rare to see insider information being leaked via someone with close ties to a Tier-1 CEX like Binance. Random listings like $PNUT and $ACT offer traders the opportunity to identify Binance insiders and track their wallets before the news is made official, and this is how they stay ahead of the game.
Disclaimer: The information provided in this article is NOT financial advice.
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