Analysis: PancakeSwap's July Trading Competition Suspected of Insider Trading
according to an analysis by Cointelegraph, PancakeSwap claimed that the winners of the trading competition held in July were randomly selected, but blockchain records show that about half of the 1700 winning wallets belong to interconnected wallet clusters.
Cointelegraph's investigation found that at least 850 winning wallets were funded by other winning wallets, which transferred BNB to each other for wash trading to meet the threshold requirements. A representative from League of Traders stated that these wallets are directly interconnected and all selected, the probability of this happening consecutively is close to zero, the prize distribution is not fair, and the winners seem to be "manually selected" rather than randomly drawn.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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