Analyst The Poly Nerd has raised concerns about potential insider trading during the Infinex IPO, identifying three wallets that may have engaged in suspicious activities. Initially, the IPO faced slow sales due to stringent KYC measures and a $2,500 cap per user, with expectations on the Polymarket platform predicting sales between $2 million and $3 million. However, a sudden shift occurred as the probability of reaching higher sales targets increased dramatically, with the likelihood of hitting $5 million rising from 20% to 70%.
The three wallets in question were newly created just a day before the IPO and showed similar betting patterns on the $5 million target pool. They strategically reduced their margin requirements on higher targets to potentially maximize profits, raising suspicions of coordinated insider trading activities.
Three Wallets Suspected of Insider Trading in Infinex IPO
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