Binance suspends team member who used BNB Chain info to front-run token
Binance suspended a member of its wallet team on Tuesday for insider trading after he was discovered leveraging information from his previous BNB Chain role to front-run an undisclosed token release. An insider trading report shared by Binance revealed how the man, aware of an upcoming token-generation-event, bought large amounts of the token with multiple wallets, knowing it would make him a profit. Binance was tipped off on March 23, and, after an investigation, suspended the individual and is taking “appropriate legal action .” Binance employees can now trade up to $5,000 in crypto, report Read more: Traders speculate about mystery crypto exec behind alleged $10B divorce Binance didn’t reveal their identity, but users on X appeared to reveal that the man is called Freddie Ng. One wallet shared by the user “py” on DEX Screener appears to show that Ng made $82,400 from at least one wallet involved in the insider trading of uDEX’s UUU token. ...
