On Polymarket,
This morning, a Polymarket trader held a large open position betting that BP's FDV would exceed $200M one day after TGE. As the resolution window approached and BP was trading around $0.19, it appears certain traders purchased a significant amount of BP tokens in an attempt to push the price above $0.20 and win their Polymarket bet.
We investigated immediately.
These traders are not insiders. They are not employees, directors, officers, advisors, or in any way affiliated with Backpack. We have zero tolerance for insider trading of any kind.

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