Onchain investigator ZachXBT claims decentralized exchange edgeX insiders controlled nearly the entire supply with a thin float.
Technical Analysis
EdgeX blames 'external party' for token crash as ZachXBT alleges insider manipulation. Onchain analysis reveals alleged insider control over token supply, raising questions about market integrity. EdgeX disputes, citing an 'external party.'
Why this matters: This incident could undermine trust in decentralized exchanges and highlight the risks associated with token supply concentration. Professionals should be wary of insider trading allegations and conduct thorough due diligence.
What to watch next: Regulatory responses and the exchange's investigation progress.
Insight: The crypto market's transparency and trust are being tested as insider manipulation allegations surface.
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