According to Foresight News, at least two moderators associated with Reddit's cryptocurrency subreddits liquidated a large number of Moon tokens before the platform publicly announced the end of its community points program. On-chain analysts Pledditor and Lookonchain pointed out that one of the involved users was Mcgillby, a Reddit subreddit administrator. Mcgillby transferred over 100,000 Moon tokens through two separate transactions on the Arbitrum Nova blockchain, converting them into more than $23,000 worth of ETH. The user subsequently deleted all previous Reddit posts and was identified as one of the top 20 Moon holders and a moderator. Another moderator, rider_of_the_storm, transferred 345,422 Moon tokens (worth over $69,000 at the time) to a trading address 17 minutes before Reddit's public announcement, and the account has since been deleted.

Foresight News previously reported that Reddit planned to terminate its blockchain-based Community Points rewards service on November 8th.