TechFlow news, September 12 — According to an analysis published by Cointelegraph, PancakeSwap claimed that winners of its July trading competition were randomly selected. However, blockchain records show that approximately half of the 1,700 winning wallets belonged to interconnected wallet clusters.
This competition was the second such event hosted by PancakeSwap, where investors earned points by trading five Binance Alpha project tokens: League of Traders (LOT), Bedrock DAO (BR), MilkyWay (MILK), NodeOps (NODE), and Moonveil (MORE). The total prize pool was worth $250,000.
Cointelegraph's investigation found that at least 850 winning wallets were funded by other winning wallets, with these accounts transferring BNB among each other to conduct wash trades and meet eligibility thresholds. A representative from League of Traders stated that the direct interconnection among these wallets and their collective selection had a near-zero probability of occurring consecutively by chance, indicating that the prize distribution was unfair and suggesting winners appeared to be "handpicked" rather than randomly drawn.
