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Reddit Crypto Community Removes Moderators Accused of MOON Insider Trading

Reddit’s r/CryptoCurrency community of 6.9 million users has fired the moderators who had traded subreddit’s native token MOON minutes before Reddit announced its decision to end its “Community Points” program last Tuesday. On Tuesday at 13:02 EST (17:02 UTC), Reddit shuttered community points – a blockchain-based internet points program designed to reward creators and developers – citing scalability issues. The program allowed users to earn and spend community points through native tokens like MOON. The token fell over 85% to $0.0198 on the back of the Reddit announcement. The insider trading enraged many in the investor community.

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