Coinbase Is Once Again Being Accused of Insider Trading

Quick take:

• Cobie, a crypto Twitter user, found an ETH wallet that made big token purchases that were listed on Coinbase less than 24 hours later.
• Pieces of evidence alleging that Coinbase is involved in insider trading is slowly resurfacing.
• The company is yet to respond to these allegations.

Coinbase has been accused of insider trading, according to evidence uncovered by crypto sleuths.

Evidence of insider trading at Coinbase has recently been revealed in the instance of UPI and AVT tokens.

Coinbase has also been accused of participating in more insider trading, according to specific hypotheses. At this time, we cannot confirm or refute the authenticity of these allegations.

Coinbase, which was accused of doing the same thing when it launched XLM in 2019, just announced the launching of two new currencies, Pawtocol (UPI) and Aventus (AVT).

Someone linked to the exchange is said to have made a tidy profit in the run-up to the announcements.

This looks to be a case of a lucky speculator on the surface. Despite this, more evidence suggests that this person was aware that Aventus and Pawtocol were both preparing for a pump.

More allegations resurface against Coinbase

Twenty-four hours before the Coinbase asset listing article was released, a Twitter user called Cobie discovered an ETH address that acquired hundreds of thousands of dollars in tokens exclusively highlighted in the Coinbase asset listing post.

Zachxbt, a crypto on-chain detective, also tweeted that he discovered a linked address that purchased XYO, FOX, and RGT before Coinbase's announcement.

This data demonstrates that the names of the different currencies that the exchange was set to advertise could be obtained ahead of time. If the buyer picked up one or both, it was more than probable that they were working on one of the two projects.

The corporation has yet to reply to the claims leveled against it.