One of the well-known names in the Crypto world, GCR, who gained fame with a 20 million dollar transaction related to the Terra/LUNA collapse (GiganticRebirth), is now in the spotlight due to serious (insider trading) allegations.
According to screenshots circulating on social media that are claimed to belong to GCR, it is alleged that Teeka Tiwari had access to token recommendations before those who are members of the crypto newsletter called Palm Beach Confidential. Similarly, it is claimed that GCR learned about Binance’s new coin listings in advance in the past.
The accuracy of these screenshots and claims has yet to be verified by independent sources. For now, these accusations are based on the shares and comments of social media users.
Palm Beach Confidential was seen as a prestigious source, especially in 2018, for crypto investors looking to access “alpha”, that is, early information that provides an advantage in the market. Teeka Tiwari’s promising cryptocurrency recommendations were shared in this newsletter, sold for $10,000 annually.
When Tiwari recommends a new coin, the price and trading volume of that coin skyrockets within minutes, allowing for purchases worth millions of dollars. Therefore, gaining early access to the symbol of the token being recommended offered opportunities for profits worth hundreds of thousands or even millions of dollars.
According to recent claims on the X platform, GCR may have had access to such recommendations two years in advance. In one of the leaked screenshots, a Discord user associated with GCR claims to have breached the Palm Beach Confidential website via Amazon Web Services and learned the token symbols before the newsletter was sent.
The same person states that they also have early access to Binance’s new coin listing announcements.
GCR has not made a public statement regarding the accusations. There have been no shares for months on @GiganticRebirth and the backup account @GCRClassic.
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