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⛓️ Crypto🔴 BearishImportance 6/10

Polymarket bettors appear to have insider-traded on a market designed to catch insider traders

CoinDesk|Shaurya Malwa||6 views
🤖AI Summary

At least 12 wallets made over $1 million in profits by apparently insider trading on a Polymarket betting market about ZachXBT's investigation results before they were publicly announced. One trader achieved extraordinary returns, turning a $0.14 average entry into $411,000 in profit, highlighting potential market manipulation on prediction platforms.

Key Takeaways
  • Twelve wallets collectively profited over $1 million from suspected insider trading on Polymarket's ZachXBT investigation outcome market.
  • One trader achieved exceptional returns of nearly 3 million percent, turning $0.14 into $411,000.
  • The incident occurred on a market specifically designed to detect insider trading, creating an ironic situation.
  • This case highlights vulnerabilities in prediction markets and potential for information asymmetry exploitation.
  • The substantial profits suggest some traders had advance knowledge of ZachXBT's investigation findings.
Read Original →via CoinDesk
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