- Unusual cryptocurrency trade sees $49,000 turn into $2 million, prompting insider trading suspicions.
- Trader uses new wallets and avoids selling TORI tokens, raising questions about identity concealment.
- Authorities urged to investigate wallet addresses to trace funds and uncover potential insider trading motives.
A recent analysis conducted by blockchain firm Lookonchain has brought to light a suspicious cryptocurrency trade, prompting concerns of possible insider trading. The trade, which occurred over a mere five-hour window saw an individual transform an initial investment of $49,000 into a $2 million.
Insider trading?This guy turned $49K to $2M in just 5 hours, a gain of 41x!
He withdrew 345.6 $SOL($49K) from #Binance via 2 fresh wallets and spent 344 $SOL($49K) to buy 261.4M $TORI.
He transferred the 261.4M $TORI to multiple wallets without selling them.
Currently, the… pic.twitter.com/ENVBxzKHGH
— Lookonchain (@lookonchain) April 28, 2024
Initially the trader withdrew $49,000 worth of Solana (SOL) cryptocurrency from the exchange platform Binance. Subsequently, the entirety of the SOL was utilized to procure 261.4 million tokens of another cryptoc…
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