Insider trading is rife in a popular corner of the cryptocurrency market.
So says Solidus Labs, a New York-based company that specializes in ways to monitor suspicious crypto transactions. Its founders include Asaf Meir and Praveen Kumar, two former employees of Goldman Sachs Group Inc.’s trading-technology operations.
In a study that focused on data going back to January 2021, the firm says it found suspected insider trading involving 56% of ERC-20 tokens around the time they were first listed on three top centralized crypto exchanges. ERC-20s are the most popular type of Ethereum-related tokens.
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