Binance Suspends Employee Over Alleged Insider Trading

Cryptocurrency exchange Binance has taken action against an employee accused of profiting from insider information before a public token launch. The employee allegedly used confidential data from their previous role at BNB Chain to profit from the Token Generation Event (TGE) for Binance’s native token, BNB. The employee is suspected of front-running trades, using non-public information to buy tokens prior to public announcement, causing significant profits when market prices shifted after the event.