Insider trading is when an insider knows the true price better than you do and takes advantage of that by making buys/sells on the market without disclosing the insider information.

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What happened here is a rugpull. Not insider trading. The coin was collapsing, but plenty of people figured out how to make money even in the collapse.

Rugpulls don't really happen in the regulated market. But they are a dime a dozen on cryptocoins.