Trader Makes $100K in Seconds Front-Running Token Listing on Binance

From decrypt.co

An unidentified crypto trader made over $100,000 in profit after buying a token just minutes before it was listed on dominant crypto exchange Binance, according to analysis by on-chain sleuth Lookonchain. The trader purchased $208,335 worth of Gains Network (GNS) tokens just 30 minutes before Binance listed the token on its global exchange. GNS soared some 51% just after the listing—from $7.92 to $12.01. The trader then offloaded their GNS position, scooping up $106,747 in profits in less than an hour. Lookonchain referred to the exceptionally timed trade, perhaps cheekily, as “smart money.” If recent trends ... (full story)