The post Binance Investigates Insider Trading Allegations After Suspicious Transactions Linked to Binance Wallet Staff appeared on BitcoinEthereumNews.com.

Binance is facing serious allegations of insider trading as it investigates suspicious transactions linked to a recently hired staff member. The internal investigation, which follows whistleblower complaints, could significantly impact the reputation of the crypto exchange. According to Binance Wallet, preliminary findings suggest the employee utilized insider knowledge to engage in front-running trades, violating company policy. Binance launches an internal probe into allegations of insider trading by a staffer, raising concerns about ethics in the cryptocurrency space. Binance’s Internal Investigation and Allegations of Insider Trading On March 23, Binance Wallet initiated an internal investigation after receiving a complaint regarding **suspicious transactions** allegedly conducted by one of its staff members. The complaint suggested that this employee engaged in **front-running trades** using insider information acquired from a former role in business development at BNB Chain. As the investigation unfolded, Binance Wallet emphasized the seriousness of these allegations, asserting that any violation of company policy would be dealt with decisively. Details of the Allegations: Front-Running and Token Generation Events The staff member in question, who joined Binance Wallet just last month, is accused of leveraging knowledge regarding a **Token Generation Event (TGE)** to purchase a large volume of the project’s tokens prior to the public announcement. This move, characterized as **front-running**, allowed the employee to capitalize on insider knowledge to achieve considerable profits. Binance Wallet made it clear that the employee’s actions were not only unethical but also in direct violation of the company’s policies regarding trading practices. Community Response and Whistleblower Incentives The cryptocurrency community has responded with keen interest to the unfolding investigation. Some users on X (formerly Twitter) have already linked former operations manager Freddie Ng to the allegations, suggesting that his actions may have led to substantial financial gains through improper trading. Notably, a wallet identified as linked to…

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Filed under: News - @ March 25, 2025 6:23 am