Binance Launches $5 Million Whistleblower Campaign Against Fake Listing Agents
Binance co-founder Yi He says the exchange will reward credible criminal evidence against fraudsters, following renewed guidance on listing procedures and scam prevention.
Summary
Binance co-founder Yi He announced that the exchange will reward individuals who provide criminal evidence against fraudulent actors, particularly those posing as 'listing agents.' Earlier today, Binance published a guide detailing its official listing process and warned the community about impersonation scams. The company reaffirmed that it does not charge for listing applications, and any payment requests are fraudulent. Rewards for credible reports can be as high as $5 million.
Terms & Concepts
- Listing Agent: An intermediary claiming to facilitate listing a cryptocurrency on an exchange, which may engage in fraudulent practices.
- Whistleblower Program: An initiative that rewards individuals for providing credible evidence of misconduct or fraud.
- Binance: A major global cryptocurrency exchange offering trading, listing, and blockchain services.