Amid allegations of insider trading, the Sui project is addressing concerns that $400 million worth of SUI tokens have been sold.
A crypto analyst known by the pseudonym Light recently claimed that insiders in this Tier 1 project were selling tokens, citing distribution charts from a recent initial coin offering (ICO).
G Mr. Wright expressed concern that developers who should deeply understand the potential of tokens are selling them in large quantities to less knowledgeable investors seeking quick profits. He warned that this trend often leads to undesirable consequences for individual buyers.
In response, the #Sui Foundation emphasized that these transactions were made by infrastructure partners and not project insiders.
It stated that no one from the fund or its development partner Mysten Labs was involved in the #token sales or violated the #blockchain agreement.
The fund also emphasized that the blockchain protocols for all tokens are strictly enforced by qualified custodians and are constantly monitored to ensure compliance.
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