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"Madison Cawthorn implicated in potential insider trading scheme, experts say"

2022-04-26 [vendor] Madison Cawthorne accused of insider trading
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Incident Details

North Carolina Representative Madison Cawthorn was one of several influential people who helped to promote the “Let’s Go Brandon” memecoin, which has since become the subject of a class-action lawsuit due to a reported pump-and-dump scheme. Cawthorn is not named in the lawsuit, but he may face his own troubles: although he has claimed to own the currency, he has never publicly disclosed any stake in the coin as is likely required by ethics legislation. Cawthorn also commented “Tomorrow we go to the moon!” on a post about the coin from his official Instagram account, the day before the team of NASCAR driver Brandon Brown announced the cryptocurrency would be the primary partner for the 2022 season. “This looks really, really bad,” said governmental watchdog group member Dylan Hedtler-Gaudette. “This does look like a classic case of you got some insider information and acting on that information. And that’s illegal.”

Technical Details

Initial Attack Vector
Regulatory / legal action
Vendor / Product
Madison Cawthorne accused of insider trading

Timeline

  1. 2022-04-26 Breach occurred
  2. 2022-04-26 Publicly disclosed