Reddit moderators accused of 'rug pull' after dumping thousands in Moons before community points termination
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Analysis suggests at least 3 Reddit moderators dumped thousands in Moons minutes before the community points program termination announcement.
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On-chain data shows moderators u/Mcgillby and u/Rider_of_the_storm shifted over 100k and 345k Moons respectively right before the announcement.
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Moderators received notice about the termination 1 hour prior, suggesting the 3 moderators used inside information to dump holdings.
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Moons and other subreddit tokens crashed in price after the announcement.
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Critics call the pre-announcement dumping by moderators a "rug pull" using insider information.