- Crypto community suspects pump and dump happening on Binance exchange, according to Collins Wu.
- Repeated cases of token dump shortly after listing has been recorded.
- All reported cases so far have happened on the Binance exchange, states Wu.
There is a suspicion of foul play among some newly listed tokens in the blockchain industry. A trend has been observed suggesting a conspiracy or negligence involving some stakeholders in the cryptocurrency industry.
Initial reports from the popular Chinese crypto journalist, Collins Wu, revealed that an anonymous wallet address bought 6193.46 RPL 10 minutes before Binance released the RPL listing announcement, and sold them all 10 minutes after the announcement, making a profit of 55,400 US dollars. In the same report, he noted that all USDT and ETH used in the transaction were from OKX.
The anonymous wallet address (0x5f…47db) bought 6193.46 RPL 10 minutes before Binance released the RPL listing announcement, and sold them all 10 minutes after the announcement, making a profit of 55,400 US dollars. The USDT and ETH used are all from OKX.The post Suspicious Transactions on Centralized Exchanges: Crypto Reporter appeared first on Coin Edition.