TRADOOR, the native token of derivatives trading platform Tradoor, is facing scrutiny after on-chain analyst Specter raised allegations of market manipulation and wash trading. The concerns intensified after the token, which had climbed about 900% since March 2026, suddenly plunged by 90% in just 30 minutes today.
Supply concentration raises concerns
According to the analysis, the main wallet linked to the Tradoor team controls 70.12% of the total token supply. That wallet is also said to have distributed 17.93 million TRADOOR across more than ten related addresses. Such a high level of concentration has raised concerns that the team or affiliated entities could exert significant influence over liquidity and price action.
Wash trading allegations and Bitget deposits
Specter also highlighted that some related addresses appeared to engage in wash trading between September 19 and 21, 2025. Wash trading can create artificial volume and distort the market’s perception of genuine activity. In addition, several wallets linked to the team have reportedly been depositing tokens to Bitget since November 2025. Analysts suspect that around 11% of the TRADOOR supply on Bitget may be controlled by the Tradoor team or its affiliates.
Questions remain as market watches for response
So far, the allegations appear to be based on on-chain analysis, and the source material does not indicate any public response from the Tradoor team. Even so, the combination of a steep rally, a sudden flash crash, concentrated holdings, and suspicious address activity has made TRADOOR a closely watched case. For traders, the episode underscores the importance of monitoring token distribution, wallet connections, and exchange inflows alongside price performance.