Insider Trading Is Widespread in a Popular Corner of the Crypto Market

Signs of the activity spotted in 56% of certain popular coins
Study by ex-Goldman technologists raises issues around trust

DeFi offers opportunities to profit from insider information ahead of new token listings on centralized exchanges, a study showsIllustration: Carolina Moscoso

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By Olga Kharif

June 28, 2023 at 12:32 PM UTC

This article is for subscribers only.

Insider trading is rife in a popular corner of the cryptocurrency market.

So says Solidus Labs, a New York-based company that specializes in ways to monitor suspicious crypto transactions. Its founders include Asaf Meir and Praveen Kumar, two former employees of Goldman Sachs Group Inc.’s trading-technology operations.