Did Reddit Moderators Dump Moons Before the Announcement? 📣
#Reddit recently announced the termination of its blockchain-based community points program, citing scalability issues. This decision stirred controversy in the crypto community, with claims of a "rug-pull" as native tokens like #MOON and BRICK plummeted in value.
On-chain data now raises suspicion that some subreddit moderators were aware of this decision in advance, as they sold substantial amounts of tokens just minutes before the announcement.
For example, u/Mcgillby converted over 100,000 MOON into $23,000 in Ether and deleted past posts. Another moderator, u/Rider_of_the_storm, allegedly moved 345,422 MOON, valued at $69,000, to an exchange address just 17 minutes before Reddit's statement.
It's suggested that at least three subreddit administrators liquidated tokens 20 to 30 minutes before the public #announcement . Reddit moderators claim they received notice of the program's termination an hour in advance, raising questions about the possible use of insider information for token dumping.
