Meteora Co-Founders Respond to Insider Trading Allegations: Risk Control Mechanisms Are in Place, and They "Had No Prior Knowledge" of the Matter
Svmuu News: Zen, co-founder of Meteora, posted on X stating that since taking over Meteora last March, the team has prioritized addressing the risk of insider trading and has implemented corresponding safeguards. As a permissionless platform, Meteora has devoted significant effort over the past 12 months to enhancing platform robustness, ensuring that projects can go live without manual intervention; the team typically only becomes aware of relevant information after a project has launched. Zen noted that NYC and YZY, the two largest launches on Meteora over the past year, were both completed without the team’s knowledge. Zen stated that the team had taken note of the relevant content on Polymarket, immediately conducted a detailed review, and remains confident in its current approach to integration and launches, as well as its team standards. Zen stated that since he and 0xSoju took over Meteora nearly a year ago, the team has focused on building infrastructure and LP-related products for the Launchpad and other platforms. They have not been directly involved in the work of the deployment team and will continue to operate in the same manner.
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