Trader earns over $400,000 betting against Axiom in insider trading case
A trader known as predictorxyz placed a $65,800 bet that Axiom would be accused of insider trading when the event’s probability was only 13.8%. The bet paid off, resulting in a profit of $411,400.
Three hours before the official accusation was announced, two newly created anonymous wallets made bets on Axiom totaling $59,800, earning about $109,000 shortly after.
This suggests potential use of insider information in cryptocurrency trading, raising concerns about market transparency and fairness.
