$7.18B
has warned users about people and groups pretending to act on its behalf to arrange token listings.
In a statement released on December 17, Binance explained how token projects can apply for a listing. It said that teams should follow the exchange’s published process and avoid any third parties offering to “help” with listings for a fee.
Binance noted that several individuals and organizations have been falsely presenting themselves as “Binance listing agents”.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is a MetaMask Wallet? (And How to Use it – Animated)
The company reminded users that no one is allowed to offer such services on its behalf. It also announced that it would reward people who share credible information about these scams. Binance is offering up to $5 million to whistleblowers who provide valid leads on listing fraud.
To show the scale of the issue, Binance released a partial list of suspected fake agents. The list includes seven names, such as Central Research, which describes itself online as an investment research group; BitABC, a crypto incubator; and Fiona Lee, who on her Chinese-language X account identifies as a former trader and liquidity provider.
Users are encouraged to report any suspected scams by emailing [email protected].
The company said it will take legal action against anyone found to be impersonating Binance representatives or attempting to defraud token projects.
Binance also noted that verified applications for listings can only be made through Binance’s official forms for Spot Listing, Futures Listing, and Alpha Featuring.
Binance recently introduced trading pairs that feature the Trump-family-supported stablecoin USD1. What did Zach Witkoff, World Liberty Financial’s CEO and co-founder, say? Read the full story.
