Category: Web3

Binance Suspends 1 Staff Amid Explosive Insider Trading Scandal

Binance Employee Under Investigation

Binance has suspended a staff member following an internal investigation into insider trading allegations. The employee allegedly leveraged privileged information from a previous role to front-run trades before a token launch.

Binance

Suspicious Trading Activity Triggers Probe

On March 23, Binance received a complaint about unusual trading activity linked to a newly launched token. By March 25, the exchange confirmed that an employee from its Wallet team had used insider knowledge gained from their prior position at BNB Chain.

Front-Running a Token Generation Event

Reports indicate the staffer purchased a large amount of the project’s tokens via multiple connected wallets before the public launch. Once the announcement went live, they partially liquidated their holdings, securing a significant profit.

“The employee has been suspended immediately, and further disciplinary action is underway,” Binance stated, adding that it will cooperate with authorities and handle assets per regulatory guidelines.

Allegations Point to a Former BNB Chain Manager

Although Binance did not name the individual, speculation quickly spread on social media. Users on X linked the suspicious activity to Freddie Ng, a former BNB Chain operations manager who recently joined Binance’s Wallet business development team.

Blockchain journalist Colin Wu reported that a wallet allegedly tied to Ng spent $6,200 to acquire 24.1 million UUU tokens (2.4% of the total supply) before the public launch. Around 6 million tokens were later sold, generating $113,000 in profits.

Crypto’s Persistent Insider Trading Problem

Insider trading has long plagued the crypto industry, disadvantaging retail investors and eroding trust in digital assets.

Notable Insider Trading Cases in Crypto

  • Coinbase Scandal (2022) – Ex-manager Ishan Wahi leaked token listing details to his brother and friend, leading to insider profits.
  • Binance’s BOME Investigation (2023) – The exchange investigated internal trading tied to the launch of Solana-based meme coin Book of Meme (BOME).
  • Aerodrome Finance (2024) – Suspended contributors following suspicious trades before the launch of Venice’s VVV token.
  • Mystiko Network Airdrop Scandal (2023) – On-chain data exposed insider transactions funneling tokens into newly created wallets.
  • LIBRA Meme Coin Controversy (2024) – Allegedly gave insiders early access, allowing them to profit $110 million post-launch.

Despite strict regulations and potential legal consequences, insider trading remains rampant in crypto markets. Binance’s latest case reinforces the urgent need for greater transparency and regulatory oversight in the industry.

YOU MIGHT ALSO LIKE:$13M Vanishes as GMX-Abracadabra Link Falls Prey to Heinous Exploit

$13M Vanishes as GMX-Abracadabra Link Falls Prey to Heinous Exploit

Massive Breach Hits GMX-Abracadabra Integration

Approximately $13 million worth of Ethereum was stolen in a recent exploit targeting the integration between GMX, a decentralized exchange, and Abracadabra, a DeFi lending protocol.

GMX

PeckShield Confirms the Attack

On March 25, blockchain security firm PeckShield confirmed the breach, revealing that the attacker drained 6,260 ETH from smart contracts associated with Abracadabra’s “cauldrons” on its V2’s GM pools. The stolen funds have since been bridged from Arbitrum to Ethereum and are now scattered across three addresses.

GMX Assures Core Contracts Are Safe

Jonezee, a GMX representative, quickly clarified that their primary contracts remain secure and that the breach is isolated to Abracadabra’s integration.

“To clarify, GMX contracts are not affected. It relates to Abracadabra/Spell’s cauldrons based on GMX V2’s GM pools. The contributors are currently looking into the cause, and I’d like to apologise wholeheartedly to anybody negatively affected. This is very unfortunate,” stated Jonezee.

How the Attack Happened

Abracadabra’s cauldrons are specialized smart contracts that facilitate lending, borrowing, and liquidity provision. These cauldrons rely on liquidity pools from the victim themselves, which appears to be the attack vector exploited by the hacker.

Not the First Abracadabra Breach

This is not the first time Abracadabra has faced security vulnerabilities. In January 2024, the protocol’s Magic Internet Money (MIM) stablecoin was manipulated through a smart contract flaw, enabling attackers to distort its price.

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As investigations continue, the breach raises fresh concerns over the security of DeFi integrations and the risks associated with cross-platform dependencies.

Fartcoin Soars 25% Amid Memecoin Mania Fueled by Trump

Memecoin mania has returned, and this time, Fartcoin is at the forefront with an astonishing 25.59% surge in just 24 hours. Currently priced at $0.5834, the token’s market cap has shot up to an impressive $583.42 million. The volume is also seeing significant action, with a 51.66% increase, now sitting at $186.65 million.

Fartcoin

Trump’s Post Fuels Meme coin Rally

This sudden price spike comes at a time when the entire meme coin sector is experiencing a resurgence. The catalyst? A post from President on Truth Social, where he discussed his own $TRUMP meme coin. This sparked an instant rally across the meme coin space, triggering excitement for tokens.

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As soon as Donald’s thoughts were shared, $TRUMP saw a 13% surge in just one hour, creating a ripple effect throughout the meme coin market and pushing other meme coins to new heights.

Fartcoin’s Meteoric Rise

It’s remarkable growth has made it one of the most visited tokens of the day, currently ranked #5 in the market. While other popular meme coins like SHIB, DOGE, and PEPE have also seen gains.

Broader Crypto Market Surge

Alongside surge of this meme coin, the broader crypto market is also seeing positive movement, with the total market cap rising to $2.84 trillion—up by nearly 3%. All eyes are now on the meme coin market to see whether this trend will continue or eventually fizzle out, as it has in previous cycles.

YOU MIGHT ALSO LIKE: 5 Shocking Facts About the Coinbase Hack Attempt – A Massive Cyberattack Stopped Just in Time!

5 Shocking Facts About the Coinbase Hack Attempt – A Massive Cyberattack Stopped Just in Time!

Coinbase

The Hacker’s Initial Moves

Before launching the attack, the hacker tested over 20 different code variations, looking for a way in. Once it detected and blocked their attempts, they pivoted to a new target—all versions of tj-actions/changed-files.

A Massive Threat to GitHub Repositories

The attack put 23,000+ repositories at risk, but security firm Unit 42 believes the real number could be even higher. Meanwhile, Wiz, another cybersecurity firm, investigated the attacker’s identity and found they are likely an active crypto community member based in Europe or Africa. Coinbase has yet to make an official statement, but experts confirm they stopped the attack before major damage occurred.

Shifting Targets: From Coinbase to GitHub Users

After failing to break into Coinbase, the attackers switched strategies and targeted a massive number of GitHub users instead. Security firm Endor Labs found at least 218 repositories had been compromised, leading to leaks of AWS, npm, Dockerhub, and GitHub access tokens—essentially login credentials for developer tools. Fortunately, most tokens expired quickly, reducing the impact.

Learn more about them on this website

How Coinbase’s Quick Response Limited the Damage

Endor Labs researcher Henrik Plate noted that the attack seemed intense at first, but its rapid response forced the hacker to adapt.

Could This Have Been Another ByBit-Scale Hack?

Yu Jian, founder of SlowMist, compared this attack to the ByBit hack in February 2025, where they stole $1.5 billion. He urged developers using GitHub tools like tj-actions to perform regular security audits to prevent future breaches.

Also Read: Strategy is Now Greatest Colossal Force to Hold 500K BTC

Strategy is Now Greatest Colossal Force to Hold 500K BTC

Michael Saylor is back at it, and this time, he has taken Strategy ($MSTR) into uncharted territory. The company has officially become the first public firm to acquire over half a million Bitcoin, cementing its status as the ultimate corporate BTC whale.

A Record-Breaking Bitcoin Buy

On March 24, Strategy (formerly MicroStrategy) announced that between March 17 and March 23, it purchased 6,911 BTC for approximately $584.1 million at an average price of $84,529 per Bitcoin. This latest purchase pushes the company’s total Bitcoin holdings to an astounding 506,137 BTC, acquired for around $33.7 billion at an average cost of $66,608 per BTC.

Strategy

Funding the Bitcoin Frenzy

To fund this historic acquisition, MicroStrategy sold 1.97 million MSTR shares, raising $592.6 million. Additionally, the company offloaded 13,100 STRK shares, adding another $1.1 million to its capital reserves. Despite these sales, Strategy still holds a massive war chest—with $3.57 billion worth of MSTR shares and $20.99 billion in STRK shares ready for future use.

Answering the Critics with a Bold Move

Saylor’s latest Bitcoin purchase comes after some in the crypto community questioned whether his enthusiasm for BTC was cooling off—especially after he made a relatively modest 130 BTC purchase earlier. However, he has now silenced the skeptics in true Saylor fashion—by making yet another record-shattering buy.

Saylor’s All-In Bitcoin Bet

At this stage, one thing is crystal clear: Michael Saylor isn’t just a believer in Bitcoin—he’s all in. With over $33 billion poured into BTC, Strategy has solidified its place as the ultimate corporate Bitcoin whale, setting a precedent for other firms contemplating large-scale crypto investments.

YOU MIGHT ALSO BE INTERESTED IN: Breaking ! Solana’s Anatoly Yakovenko Destroys L2s: The Overhyped Scam?

Breaking ! Solana’s Anatoly Yakovenko Destroys L2s: The Overhyped Scam?

Solana’s Anatoly Yakovenko Roasts Layer 2: Do We Even Need Them?

Solana co-founder Anatoly Yakovenko is back at it again, dunking on Layer-2 rollups and questioning why they even exist. According to him, L1 blockchains—like solana—are already fast, cheap, and secure enough to handle everything, so why add extra complexity?

Solana L2

Yakovenko argues that L2s just introduce unnecessary risks, like fraud proofs and multi-sig upgrades, which only complicate things. Instead of building an layer 2, he suggests devs just launch a token and call it a day. He believes there’s a limited number of actually useful smart contracts, so the whole layer 2 boom is just overhyped.

Taking shots at Ethereum’s scaling model, he claims layer 2s are actually hurting Ethereum instead of helping it. By siphoning high-priority transactions away from the main chain, Yakovenko thinks they’re weakening Ethereum’s core rather than strengthening it. He’s even called layer 2 “parasitic” since they rely on Ethereum while taking value away from it.

To make things worse for Ethereum, its transaction revenue has crashed by 95% since late 2021. Yakovenko sees this as proof that layer 2 aren’t the solution—they’re part of the problem. In his view, it’s time to stop stacking layers and just make Layer-1s better instead.

What do you think—L2s are the future, or is Yakovenko spitting facts?

You might also like: Bitcoin Whale Awakens, Moves $250M: A Monumental Shift

Bitcoin Whale Awakens, Moves $250M: A Monumental Shift

Bitcoin Whale finally Awake?

A long-dormant Bitcoin Whale wallet has suddenly woken up after eight years of inactivity. According to blockchain analytics firm Arkham Intelligence, the whale has moved over $250 million worth of Bitcoin.

Bitcoin Whale

The transactions were executed within the last 16 hours, showing that the value of the holdings has appreciated from approximately $3 million in early 2017 to over $250 million today. Before yesterday’s transfers, the wallet had maintained its Bitcoin in a single address for more than eight years.

The transactions, visible on Arkham’s monitoring dashboard, show the funds moving between several wallets labeled as “250M BTC Whale” addresses.

Specifically, the transactions took place in two batches about 14-16 hours ago, with each transfer involving approximately 3,000 BTC worth roughly $252 million per transfer.

Whale Purchased Bitcoin When It Was Around $1,000

According to the transaction history, the Bitcoin was originally purchased around 2016, when BTC traded at approximately $1,000 or lower.

Before these recent movements, the last transactions from these wallets occurred around 8 years ago, as shown by the timestamps in Arkham’s data—the early transactions from 2016 show the accumulation of Bitcoin when the cryptocurrency was less valuable.

The awakening of dormant wallets from Bitcoin’s earlier years has become increasingly rare. These events offer a glimpse into the major wealth creation experienced by early adopters who maintained their holdings through multiple market cycles.

While some long-term holders maintain their Bitcoin positions, industry experts are debating whether Bitcoin’s traditional four-year market cycle will be sustained into the future. Tomas Greif, Chief of Product & Strategy at Braiins, recently questioned the sustainability of these cycles:

“Is the 4-year Bitcoin cycle dead? Early on, halvings had a major supply impact. But as the majority of BTC has been mined, their effect is shrinking. In a couple of halvings, they will have a negligible effect on supply,” Greif noted.

He suggests that while historical patterns may continue as a “self-fulfilling prophecy,” the fundamental impact of halvings on Bitcoin’s supply disappears with each cycle. Greif emphasized that halvings will continue to affect Bitcoin mining economics regardless of market cycles.

Is the Surge in Crypto world pulling dormant Bitcoin Whale?

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TRON DAO & Pump.fun Launch PumpSwap: 3 Ways This Boosts Cross-Chain Liquidity!

TRON DAO’s Bold Move to Expand Its DeFi Footprint on Solana

In a groundbreaking move, TRON DAO has strategically partnered with Pump.fun to launch PumpSwap, a new decentralized exchange (DEX) designed to enhance cross-chain liquidity. This collaboration is a key part of TRON’s long-term vision to solidify its presence in the decentralized finance (DeFi) space, and it marks a significant step forward in the expansion of TRON’s cross-chain capabilities.

Tron Dao
How people on X are reacting

Learn more about Tron by clicking here

By bridging TRX to Solana, PumpSwap will help create a new liquidity hub that connects the Solana and TRON ecosystems. This integration not only benefits TRON but also increases the accessibility of Solana’s network, providing a more seamless experience for users looking to trade and interact with a variety of crypto assets. The TRON-Solana collaboration is expected to play a pivotal role in enhancing blockchain interoperability, ultimately reducing friction between different blockchain networks.

In addition, PumpSwap will bring about a host of features designed to make liquidity management more efficient. These include streamlined token trading and a revenue-sharing scheme that allows creators to earn while contributing to the ecosystem. This is a clear indication of TRON’s commitment to improving the DeFi space by fostering greater liquidity and user engagement.

As TRX begins to flow into Solana, more users are likely to explore the Solana ecosystem, resulting in an increase in both TRON DAO’s DeFi adoption and Solana’s market presence. This could open doors to even more cross-chain collaborations and opportunities, positioning TRON and Solana as leaders in the blockchain interoperability movement. TRON DAO’s partnership with Pump.fun not only strengthens its role in DeFi but also lays the groundwork for a more interconnected and accessible decentralized future.

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Fake News Exposed: 2 Shocking Truths Behind Trump’s Bitcoin Whitepaper in the Oval Office

Viral Video of Trump Unveiling Bitcoin Whitepaper at White House Turns Out to Be Fake

Yo, President Donald Trump’s recent viral video unveiling a Bitcoin Whitepaper in the Oval Office got everyone talking. 😱 The video, circulating all over X (formerly Twitter), had people in a frenzy as it seemingly showed Trump proudly displaying a Bitcoin whitepaper portrait, with FOX News correspondent Sarah by his side. Crypto Twitter went wild with excitement, with some calling it a huge step for crypto in the U.S. under Trump’s leadership.

But hold up, fam—turns out it’s all fake news. 😤

The Truth Behind the Viral Video

The video that set the crypto world on fire was actually a doctored version of a Fox News segment. The original footage, from The Ingraham Angle, actually showed Trump showing Sarah the United States Declaration of Independence, not a Bitcoin whitepaper. Yikes! 🙅‍♂️

Trump
Here’s the post showing it

How Did This Get So Big?

So, how did this massive misinformation spread like wildfire? The answer: Crypto handles jumping in to share the video without checking facts. One of the first major accounts to post the video was Kraken, a prominent crypto exchange in the U.S., which tweeted:

“Wait, hollup… #btc white paper spotted at the Whitehouse!?”

This led to tons of people sharing the video with cryptic posts and fueling the misleading narrative. 😳

The Spread of Misinformation in Crypto

This situation shows how tough it is to combat fake news in the crypto world. Misinformation, manipulated media, and overhyped narratives often run wild—especially when they play into the sensational side of crypto. This incident highlights the ongoing challenge of separating truth from hype in a space that’s already known for its volatility.

Also Read: $TRUMP Token Surges 13%: Memecoin’s Hope? Or Despair?

$TRUMP Token Surges 13%: Memecoin’s Hope? Or Despair?

How $TRUMP Token Became the New Memecoin Sensation

Donald Trump just sent the $TRUMP token memecoin flying with a single post on Truth Social. After months of sluggish performance, the token suddenly surged 13% in just an hour, all thanks to Trump’s unexpected endorsement.

His post read: “I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!” That was enough to send traders into a frenzy. The price shot up to $12.11, marking a 13% gain in a day. Market cap hit $2.42 billion, while trading volume exploded by 195%, reaching a staggering $830 million.

$Trump Token Valuation

Before this, $TRUMP had been in a downtrend with barely any action. But with Trump’s stamp of approval, buyers rushed in, fueling the biggest pump in months. This isn’t the first time a memecoin has skyrocketed due to celebrity hype—Elon Musk has done it countless times with Dogecoin, and now Trump’s doing the same with his own namesake token.

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The broader crypto market is also looking perkier—Bitcoin, Ethereum, and Solana are all up, with the total market cap nudging higher by 1%. So, what’s the deal? Are we on the cusp of a proper bull run, or is this just another fleeting memecoin hype bubble? Or is $Trump Token really making it?

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