cryptoslate.com
A mysterious wallet purchased 6193.46 Rocket Pool (RPL) tokens 10 minutes before Binance announced the token’s listing, according to Wu Blockchain.
Ten minutes after Binance’s announcement, the investor sold all RPL tokens and collected $55,397 in profit.
The transfers
The investor used Uniswap and swapped 190,000 Tether (USDT) for 190,024 USD Coin (USDC) first. They subsequently exchanged all the USDC for 119.79 Ethereum (ETH), which he used to purchase 5,883.9 RPL. After that, the investor exchanged another 10,000 USDT for 6.302 ETH and bought an additional 209.49 RPL with it.
After waiting for 24 minutes, the mysterious trader went back to Uniswap and exchanged all the RPL tokens he held for 162.06 ETH, which he then exchanged for 255,397 USDT immediately. The USDT and ETH used by the anonymous trader came from OXS, as Wu Blockchain states.
Binance listing
Within this 24 minutes, leading crypto exchange Binance announced that it is listing RPL in the innovation zone and will open trading pairs on Jan 18, 2023.
As a result of the announcement, RPL surged by 32.2%, increasing from $31.96 to as high as $42.26. The token is being traded for around $35.84 at the time of writing.
The perfect timing of the RPL trade led the community to question if this was insider trading or just investors’ luck.