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Suspicious Wallets Nearly Earned $1M on Binance Listings


  • Coinbase’s director highlights suspicious transactions of several anonymous wallets
  • The cryptocurrency ecosystem has been abuzz with insider trading
  • There might be a rogue listings employee responsible for this series of events

The director of Coinbase, Conor Grogan, took to Twitter to highlight the transaction behavior of a few anonymous wallets over the past eighteen months.

The anonymous wallets allegedly purchased many unlisted tokens on Binance minutes before their listing announcement and sold them immediately after the announcement.

Grogan hypothesized that this might have been caused by a rogue employee related to the listings team who had information on new asset announcements or a trader who discovered an API or staging /test trade exchange leak.

The first case of this nature occurred with Rar tokens when one of these wallets bought $900,000 Rar seconds before listing and sold it minutes later.

A similar pattern was noticed prior to the RAMP token sale on Binance, when one of these wallets beginning with 0xaf4d3b7 purchased $500,000 worth of RAMP over the course of a few days and then sent it to Binance minutes after the listing announcement. The trade yielded a profit of $100,000 for the owner.

Another wallet earned the amount of $100,000 from Binance’s GNO listing when he dumped the freshly listed coin on the market.

Insider trading has been a hot topic in the cryptocurrency ecosystem, especially in light of the recent conviction of the brother of a former Coinbase manager. Binance listings linked to wallet addresses with shady transaction histories have now sparked suspicion.

In other news, hackers have the ability to complete a sale by matching advanced orders placed using the OpenSea Seaport protocol.

The vast majority of users are becoming dissatisfied with the NFT marketplace for the OpenSea censorship features. This is due to the fact that stolen NFT commodities can be traded on the platform’s marketplace.

Tags: binanceCrypto marketcryptocurrency

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José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.


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