Backpack Clarification: Polymarket User Attempting to Manipulate Coin Price is Not a Backpack Team Member

BlockBeats News, March 25th, Backpack official posted on social media this morning, stating that a Polymarket trader held a large amount of open positions, believing that BP's FDV the day after TGE would exceed 200 million U.S. dollars. As the resolution window approached and BP's price hovered around $0.19, it appeared that a specific trader was buying a large amount of BP tokens, trying to push the price above $0.20 to win their trade on Polymarket.

The Backpack team immediately launched an investigation into this. These traders are not insiders. They are not Backpack employees, directors, executives, advisors, nor do they have any affiliation with Backpack. Backpack has a zero-tolerance policy towards any form of insider trading.