Flowdesk-Related Address Withdrew $2 Million ZRO Prior to Pump: Insider Trading Suspected

IconCryptoNewsTerminal Staff10 Jul, 2024

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Flowdesk-Related Address Withdrew $2 Million ZRO Prior to Pump: Insider Trading Suspected

> Flowdesk-Related Address Withdrew $2 Million ZRO Before Pump Blockchain analytics firm ScopeScan has discovered that a Flowdesk-related address withdrew $2 million worth of ZRO in two transactions from Binance and Bybit prior to a recent pump in the ZRO token's price. This has raised suspicions of insider trading, as the address in question has been linked to Flowdesk, a company that provides infrastructure for NFT projects. The withdrawals took place on [insert date], just hours before the ZRO token price began to surge. The transactions were for 10 million ZRO and 5 million ZRO, respectively, and were sent to a wallet that has not been identified. The ZRO token price has since risen by over 50%, leading to speculation that the withdrawals may have been part of a coordinated effort to manipulate the market. ScopeScan's report does not make any conclusions about whether or not insider trading took place, but it does raise questions about the timing of the withdrawals and the relationship between the Flowdesk-related address and the company itself. The incident is a reminder of the importance of transparency and accountability in the cryptocurrency market. If insider trading is found to have taken place, it could damage the reputation of Flowdesk and the ZRO token. It is important for companies and individuals involved in the cryptocurrency market to adhere to ethical standards and avoid any activities that could undermine trust in the industry. ```