Coinbase was caught in insider trading after new listing of tokens is published

An unknown person may have gained access to the list of tokens a day before the release and bought assets worth around $390 000

13.04.2022 - 09:05

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2 min

What’s new? On April 12, Jordan Fish, a crypto influencer, known under the pseudonym Kobi, discovered an ETH address with hundreds of thousands of dollars worth of tokens purchased. An unknown person bought tokens from a list for a potential listing of the Coinbase cryptocurrency exchange a day before its publication. This was reported by Kobi on his Twitter.

Source: Twitter.com

Details of the accusation. According to the information provided by Kobi, the wallet owner bought tokens worth around $390 000, including Indexed (NDX), Kromatika (KROM), DappRadar (RADAR), RAC (RAC), DFX Token (DFX), and Paper (PAPER).

What preceded it? On March 11, 2022, three clients filed a class-action lawsuit against Coinbase. The plaintiffs claimed that 79 tokens are securities and their sale should be made illegal. The list included Polkadot (DOT), Dogecoin (DOGE), Chainlink (LINK), Solana (SOL), and Ripple (XRP).

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