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Wallet Incurs $477,000 Loss in Insider Trading Before NYC Token Announcement in New York City
Summary: According to CryptoFear, a wallet suffered a loss of $477,000 in insider trading before the announcement of the NYC token in New York City. The NYC token's market value surged to $600 million after its launch, but the team later withdrew $2.5 million in USDC from the pool, causing a 70% price drop. With a ...
According to CryptoFear, a wallet suffered a loss of $477,000 in insider trading before the announcement of the NYC token in New York City. The NYC token's market value surged to $600 million after its launch, but the team later withdrew $2.5 million in USDC from the pool, causing a 70% price drop. With a 20-minute window from pool deployment to NYC token announcement, the wallet bought in 10 minutes before the announcement, initially gaining $250,000 in unrealized profits. However, holding onto the position for too long led to panic selling and a loss of $477,000.
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Link: Wallet Incurs $477,000 Loss in Insider Trading Before NYC Token Announcement in New York City [Copy]
