Cryptocurrency exchange giant Binance has issued a transparency update, publicly cracking down on fraudulent third-party "listing agents" who misrepresent themselves as having connections to the exchange to solicit fees from token projects. The company emphasized that it does not authorize any external brokers or intermediaries to negotiate or influence listing decisions.
Binance outlined its official listing framework, urging all token teams to submit applications exclusively through its designated channels. The exchange has observed recurring instances where individuals or entities falsely claim to offer listing services for Binance's Alpha, futures, or spot markets. In response, Binance has blacklisted several parties identified through an internal audit, including BitABC, Central Research, May/Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z. The company stated it will pursue legal action where appropriate.
To incentivize the reporting of such fraud, Binance is offering a whistleblower reward of up to $5 million for verified information leading to the exposure of wrongdoing. One of the blacklisted entities, Central Research, has been linked to backing several crypto projects such as Fireverse, Nebula Revelation, AKI Network, Fusionist (ACE), and Artyfact. Binance clarified that only Fusionist (ACE) currently trades on its platform and did not draw a direct link between the blacklist and its past listing decisions.
This crackdown follows a recent internal scandal where a Binance employee leaked information related to the listing of a "year of the yellow fruit" memecoin. The incident prompted the exchange to take disciplinary action and implement new security controls. Binance's latest move is positioned as a significant step to ensure transparency, integrity, and fairness in its token listing operations.
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