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Moderators responsible for overseeing Reddit’s largest crypto forum have been fired amid allegations that they sold off the subreddit’s native MOON token minutes before the platform canceled its crypto rewards program. That’s according to CoinDesk and a message from the r/Cryptocurrency team that read, “All the moderators who sold Moons before the announcement have already been removed from the mod team.” MOON could previously be distributed, traded, or spent as part of Reddit’s blockchain-based community points program. However, it was announced last Tuesday that the program was to shut down by November 8.   Reddit admins reportedly informed moderators in charge of the r/Cryptocurrency thread of the upcoming cancellation one hour before its announcement. Cryptosleuths claim that, within the hour, three moderators dumped their holdings before the news broke publicly .   1/ Three @CCMOD_ moderators dumped $MOON in advance via #inside information from @Reddit admins. pic.twitt...

Reddit’s community tokens have been making noise in the crypto market lately. Over the last couple of days, they have registered triple-digit gains. The platform’s r/CryptoCurrency community has over 6.6 million members. Its native token, Moons [MOON], inclined from its Sunday low of $0.09 to $0.35 earlier today. Source: Reddit MOON is typically an ERC-20 token. Users get this token as a reward for their posts and comments in the r/CryptoCurrency sub rEDDIT . MOON can be traded, tipped, or spent by users. Also, if users want, they can store their tokens in Reddit’s Ethereum-based wallet, Vault. Even though the buying pressure peaked, the price of the asset failed to continue hovering around its recent high. At press time, it was down to trading at $0.27. Nevertheless, its ROI over the past three days stand around 200%. CryptoCurrency Moons/USDT by TradingView Also Read: ARK Sells ~250,000 Coinbase Shares Amid Staking Vulnerability Another prominent...