Binance Suspends Employee Over Alleged Insider Trading

Binance, a major cryptocurrency exchange, has suspended an employee following allegations of profiting from insider information. The employee allegedly leveraged confidential data from their previous work at BNB Chain to purchase tokens before the public announcement of a Token Generation Event (TGE). This action, known as front-running, is considered illegal and violates Binance’s internal policies. The employee reportedly used multiple wallet addresses to buy large quantities of tokens, securing significant profits when the market reacted to the token’s launch.