Sui Foundation Addresses Allegations of Insider Token Sales

According to BlockBeats, on October 15, the Sui Foundation responded to allegations that insiders sold $400 million worth of tokens during a price surge. The foundation clarified that no insiders, including employees of the foundation or Mysten Labs, its founders, or investors, engaged in such sales, either individually or collectively. They emphasized that no insiders participated in any preemptive selling or violated lock-up and circulation supply plans. The foundation noted that the accuser did not provide wallet addresses to support their claims. However, the Sui Foundation believes the wallet in question likely belongs to an infrastructure partner who holds tokens and adheres to the lock-up plan. All token lock-ups are executed by qualified custodians and continuously monitored by the Sui Foundation, ensuring the partner's operations are compliant.