Sui denies that insiders dumped $400 million tokens, saying it was operating normally for infrastructure partners
2024-10-15 00:51:41
In response to the allegation that "Sui insiders dumped $400 million worth of tokens during this rally," the Sui Foundation stated, "1. During this period, no Insiders, employees of the Foundation or Mysten Labs (including the founder of Mysten Labs) or ML investors sold $400 million worth of tokens individually or in combination. Insiders were not involved in any pre-emptive sell-offs or violations of lock-up periods and circulating supply plans. 2. While the Poster did not provide a wallet address, we believe the likely owner of the wallet is an infrastructure partner who owns the tokens under the lock-up period. All token lock-up periods are executed by a qualified custodian and continuously monitored by the Sui Foundation, and the partner complies with regulations. "
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