On-chain analytics platform The Data Nerd announced on X (formerly Twitter) that it had detected a large-scale “wash trading” operation in Binance Alpha tokens. According to the post, a group likely controlled by a single individual or organization is using numerous addresses to withdraw BNB from Binance. These addresses are processing thousands of high-frequency transactions for dozens of different tokens daily. Over the past 30 days, each address has reportedly traded over 250 different tokens, processing hundreds of thousands of transactions. The Data Nerd argued that activity on this scale exhibits a pattern more typical of automated trading bots than individual investors or project teams. It was also noted that these addresses had recently traded COAI tokens, but generally did not “buy the dip” and instead operated in a continuous buy-sell cycle. This behavior was likened to the trading strategies of arbitrage or mining bots rather than memecoin insiders. *This is not investment advice.