• Meld confirmed it has no control over the actions of private sale token holders after accusations of insiders selling.
• TapTools had identified two associated addresses that sold but never bought Meld tokens.
• Meld denied suggestions that staff were involved and benefited from the token sales.
The Cardano protocol Meld is denying rumors of insider trading on its platform. On-chain analysis conducted by TapTools highlighted a series of large token sales from an address credited with between three and seven million MELD tokens since September 2022. TapTools identified two associated addresses that also sold but never bought MELD tokens, totaling just over one million ADA, or approximately $340,000 at today’s price.
In response to the accusations of foul play, Meld has clarified that the address in question is owned by a „private sale token holder“ and the company has no control over the actions of token holders. Meld also denied suggestions that staff were involved and benefited from the token sales.
The allegations of insider trading come at a critical time for Meld, as the company is in the process of launching its own cryptocurrency, MELD. The launch is expected to take place in the near future and will provide users with access to a range of innovative financial services.
Meld is also working hard to ensure the security of its platform. In addition to its own internal security measures, the company has taken steps to ensure that all token sales and transfers follow the highest standards of compliance. Meld has also partnered with leading audit firms to ensure that all its operations adhere to the highest levels of security and transparency.
Overall, Meld has made it clear that it is committed to maintaining the highest standards of security and transparency throughout its operations. The company’s swift response to the allegations of insider trading is a testament to its commitment to protecting its users and creating a secure environment for its users to transact with. As Meld continues to launch its cryptocurrency and innovate its platform, it is likely that the company will continue to prioritize the security and transparency of its operations.