A meme coin trader has allegedly used insider information to make $6.72 million by trading $LIBRA tokens. The trader had previously made $1.3 million trading with the $TRUMP token. Before the launch of $LIBRA, the trader created two new digital wallets and transferred funds into them. Once $LIBRA was launched, the trader used these wallets to spend $2.02 million to buy 5.08 million $LIBRA tokens. The tokens were then sold for $8.74 million, resulting in a profit of $6.72 million. This incident raises concerns about market openness, ethical behavior, and the need for enhanced regulations to prevent insider trading practices in the cryptocurrency industry. Lookonchain has highlighted the importance of fair trading practices and transparency in building trust among stakeholders. Authorities will investigate the case for any potential legal violations.



Other News from Today