Backpack Clarifies: Polymarket User Attempting to Manipulate Coin Price Is Not a Backpack Team Insider

MarsBitNews · 2026-03-25T03:04:37+00:00

Backpack officials stated that traders have been buying BP tokens in large quantities on Polymarket, attempting to push the price above $0.20. Following an investigation, these traders have no affiliation with Backpack, and the team maintains a zero-tolerance policy toward insider trading.

MarsBitNews

2026-03-25 03:04:37

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Mars Finance reports that on March 25, Backpack’s official social media announced that a Polymarket trader held a large number of open positions this morning, believing that BP’s FDV one day after TGE will exceed $200 million. As the resolution window approaches and BP’s price hovers around $0.19, it appears that certain traders are heavily buying BP tokens in an attempt to push the price above $0.20 to gain an advantage in their Polymarket trades. The Backpack team immediately launched an investigation. These traders are not insiders. They are not employees, directors, executives, or advisors of Backpack, nor do they have any connection to Backpack. Backpack maintains zero tolerance for any form of insider trading.

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