Around 40% of the coin’s total supply was bought up before Waka Flocka Flame announced the launch.
American rapper Juaquin James Malphurs, popularly known as Waka Flocka Flame, launched his cryptocurrency, FLOCKA, on June 17. Shortly after the launch, allegations of insider trading surfaced.
Suspicious transactions were reported involving a wallet that acquired about 40% of the coin’s total supply before dispersing it to multiple other wallets soon after the launch.
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