Binance Freezes Over $2 Million From Addresses Linked to Alleged Insiders, Here’s Why

An anonymous individual has been accused of insider trading on Binance, with allegations that they front-ran Binance listing pumps of multiple altcoins and booked a seven-figure profit. Citing on-chain data, Twitter user FatMan pointed out how the individual bought FXS tokens just six days ahead of the Binance listing on Uniswap, with Binance listing the FXS and the crypto price shooting up. Binance CEO Changpen Zhao responded, stating that the exchange had frozen $2m associated with the address in question. Meanwhile, Binance experienced net outflows of over $2.1bn on the Ethereum blockchain over the last week, though the exchange still holds over $63bn in the exchange's publicly disclosed wallets. (coingape)

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