Reddit Moderators Dismissed After Being Accused of $MOON Token Insider Trading


Moderators in charge of Reddit’s largest crypto topic have been dismissed following charges that they sold off the subreddit’s native MOON cryptocurrency just minutes before the platform discontinued its crypto rewards scheme.


According to reports and a comment on r/Cryptocurrency, “all the moderators who sold Moons before the announcement have already been removed from the mod team.”

MOON was originally available for distribution, trading, and spending as part of Reddit’s blockchain-based community points scheme. Last Tuesday, however, it was revealed that the program would be terminated on November 8.


One hour before the announcement, Reddit management apparently warned moderators in charge of the r/Cryptocurrency thread of the impending cancellation. According to cryptosleuths, three moderators sold their shares within an hour of the news breaking publicly.

The dismissed moderators are said to have sold at least 456,353 MOON tokens for $92,000. The price of Moon tokens decreased by 21% before the announcement and by 85% after the cancellation was announced.

Stay in the know on crypto by frequently visiting Crypto News Today

Reddit said in announcing the move that the initiative lacked “an outsized commitment to resources.” It wrote, “Though the moderators and communities that supported Community Points have been incredible partners — as it’s evolved, the product is no longer set up to scale.”

CryptoCaster Quick Check:

Many members on the r/Cryptomoons subreddit are still unsure what to do with their tokens, while others are seeking to devise a solution that would allow them to continue using Moon Tokens without the involvement of Reddit.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.

Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.

We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.

When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.

CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.

We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like