Binance has suspended a staff member of its Binance Wallet team amid an internal investigation concerning allegations of insider trading. The investigation was initiated on March 23 after whistleblowers reported suspicious transactions involving the staff member. Preliminary findings indicated that the staffer, who joined last month, was suspected of using privileged information from a previous role to engage in front-running trades of a project token. This employee allegedly purchased a significant volume of tokens before a Token Generation Event (TGE), anticipating high community interest, and later sold these holdings for substantial profits. Binance has stated that the staff member was immediately suspended and that the company will cooperate with authorities for potential legal actions. While the identity of the employee has not been disclosed, speculation linked the case to Freddie Ng, a former operations manager based on recent social media hints. Binance Wallet has also encouraged whistleblowers to report via a secure email channel, offering rewards for verified reports.

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