The Reddit crypto community has removed the moderator suspected of MOON insider trading

2023-10-23 16:37:56

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ChainCatcher news, according to CoinDesk, the r/CryptoCurrency community on Reddit, which has 6.9 million users, removed the moderators of the subreddit trading the native token MOON just minutes before announcing the decision to end its community points program last Tuesday.

MOON is an ERC-20 community points token that serves as a token incentive for users posting or commenting in the r/CryptoCurrency subreddit, and these tokens can be freely traded, tipped, or spent within the community for various purposes. Following Reddit's announcement, the token dropped over 85% to $0.0198.

Regarding the handling of the MOON token, core contributor and founder of MoonsDust u/mellon98 stated that they are waiting for Reddit's decision on whether to transfer the contract ownership to the community or to move it to a burn address.

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