Backpack: Suspected of Manipulating Prediction Market Users by Pumping BP Price, Not Backpack Team Members

Odaily News Backpack posted on the X platform, stating that this morning, a Polymarket trader held a large number of open positions, betting that BP's FDV would exceed $200 million one day after the TGE. As the settlement window approached, with BP trading at around $0.19, it appeared that traders were buying large amounts of BP tokens in an attempt to push the price above $0.20 to win the bet on Polymarket. Backpack stated that it has immediately launched an investigation and confirmed that these traders are not employees, directors, executives, or advisors of Backpack, nor are they affiliated with Backpack in any way. Backpack emphasized a zero-tolerance policy towards any form of insider trading.