An anonymous user purchased little-known altcoins for a six-figure sum the day before their listing was announced on Coinbase. 

Coinbase Accused of Insider Trading

An unknown crypto investor bought five not-so-famous tokens a day before the announcement of their listing on the cryptocurrency exchange Coinbase. It was noticed by a Twitter user nicknamed Cobie. 

These are the following altcoins: 

  • Kromatika (KROM); 
  • DappRadar (RADAR); 
  • RAC (RAC); 
  • DFX Token (DFX); 
  • Paper (PAPER). 

The overall purchase amount at the time of the transaction exceeded $390.000. The Etherscan service has already tagged the wallet address as “Opportunist,” marking those suspected of insider trading. The wallet address is practically new and anonymous. So far, it has managed to accept funds from crypto exchanges and Huobi, as well as register on NFT marketplaces OpenSea and Rarible. Twitter users claim assets of questionable origin are being funneled into the wallet. They also recall previous indications of insider trading on Coinbase, the last major case of which was spotted in February 2022.

Author: Mark Wallerstein
#Cryptocurrency #News