Crypto Enthusiast Pinpoints Reddit Post as Evidence of BCH Insider Trading

The ‎publication was called “"Bitcoin Cash coming in the next few days."

Less than a week after Coinbase said that it was looking into price movements that occurred ‎shortly after it launched Bitcoin Cash on its exchange, some evidence begins to emerge. While it seems that the popular cryptocurrency exchange doesn’t ‎actually have a smoking gun, a few posts on a Reddit forum might be enough.‎

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As reported last week, Bitcoin Cash’s price jump, which occurred only a few hours Coinbase began to offer it, led the exchange to suspect insider ‎trading. The price got to $8,500 on Coinbase-affiliated exchanges while being around ‎‎$3,500 on all others.‎

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Albert Renshaw, a digital currency enthusiast and entrepreneur, has pointed to a Reddit ‎thread from December 18, which was published by a user called “mukiwa2”. The ‎publication is called “Bitcoin Cash coming in the next few days.”  Mukiwa2 claimed ‎to have spotted evidence of the addition of Bitcoin Cash through his contacts with a Coinbase ‎employee‎.

Mukiwa2 may have tried to run a pump and dump scheme, which has become a fairly common practice within the cryptocurrency ‎community. Many Reddit users appeared to lend this particular thread enough ‎credence to check it out for themselves.‎

According to a Forbes report, Reddit’s /r/btc community took mukiwa2‎’s post as a significant sign of insider trading, that would surely ‎influence the altcoin’s price across exchanges. This interest caused ‎‎mukiwa2 to delete his/her comment. Some members ‎saved a screen capture of the commentary, and the user’s account was deleted.‎‎

mukiwa2‎ comments

Last week, Roger Ver, CEO and co-founder of ‎Bitcoin.com, vocally defended Coinbase with regard ‎to recent allegations of suspected insider trading. When he ‎was asked for his opinion regarding the situation, Ver ‎responded that he believes crypto “insider trading is a ‎non-crime.”‎

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