Bitcoin Cash Insider Trading Discovered Via CoinBase With Potential 8X Return

An entrepreneur and cryptocurrency enthusiast says he's discovered damning evidence of insider trading of Bitcoin Cash related to its recent adoption by Coinbase, the popular digital currency exchange, as well as GDAX, another exchange.

How it happened

On December 18, someone called "mukiwa2" on Reddit posted "Bitcoin Cash coming in the next few days." On the 19th, Coinbase announced that it would be supporting Bitcoin Cash.

Immediately, Bitcoin Cash values skyrocketed.

"Demand soars while supply stays constant," Renshaw told me via Messenger. "The potential gains are huge. In this case BCH went from $1k to $8k in an hour."

The stakes are huge when a cryptocurrency enters the big exchanges. Suddenly a cryptocurrency that might have only been available to a few people with specific digital wallets is available to a much larger audience of potential buyers. While Coinbase had publicly revealed that it would support Bitcoin Cash at some point, the exact timing was unknown.

In this case, someone who invested $150,000 in BCH before the adoption stood to make over $1,000,000 in profit very soon after the Coinbase announcement, which states that "sends and receives are available immediately," and that buys and sells would be "available to all customers once there is sufficient liquidity on GDAX."

The key question: who "mukiwa2" is

It's not clear who "mukiwa2" is, but upon questioning in the Reddit thread, the user reveal that he or she had an inside source.

"I have a mate at CB ;)," mukiwa2 said.

(CB almost certainly refers to Coinbase.)

"mukiwa2" seemed to realize the danger of posting this publicly rather quickly. After more questions, whoever was behind "mukiwa2" deleted his or her comment. Unfortunately for "mukiwa2," the comment was archived, so then "mukiwa2" deleted his or her entire account.