Analysis: Suspected Insider Trading in PancakeSwap’s July Trading Competition
According to a report by Jinse Finance, Cointelegraph published an analysis stating that PancakeSwap claimed the winners of its July trading competition were randomly selected, but blockchain records show that about half of the 1,700 winning wallets belong to interconnected wallet clusters. Cointelegraph's investigation found that at least 850 winning wallets were funded by other winning wallets, with these wallets transferring BNB among each other to conduct wash trading and meet the threshold requirements. A representative from League of Traders stated that these wallets are directly interconnected and were all selected, making the probability of such consecutive occurrences nearly zero. The prize distribution was not fair, and the winners appeared to be "manually selected" rather than randomly drawn.
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Data: Long-term holders collectively own 14.35 million BTC, accounting for approximately 68.3% of the total supply.
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