Fraudulent Listing — Up to $5M Reward from Binance

Binance has officially launched a large-scale campaign against so-called “fraudulent listing agents” — third parties and companies posing as representatives of the exchange and promising projects the ability to get listed on the platform for a fee. As part of this initiative, the exchange announced a reward of up to $5,000,000 for whistleblowers providing verifiable information about such violations.

Previously, a number of individuals and companies were added to Binance’s blacklist and may now face legal consequences. The platform strongly warns all crypto projects: any person claiming to influence listings on Binance is acting illegally and has no right to represent the exchange.

The announcement, published Wednesday in the transparency updates section, comes at a highly sensitive time for the world’s largest cryptocurrency platform. Recently, Binance has faced increasing scrutiny from auditors and regulators regarding its listing practices following several alleged insider trading incidents related to token information leaks.

Binance emphasized that all token listing applications must be submitted exclusively through the platform’s official channels, including Binance Alpha, futures, and spot markets. The exchange does not authorize intermediaries, consultants, or external brokers to in any way facilitate, guarantee, or accelerate the listing process. Any person claiming to represent Binance or offering paid listing services is engaged in fraudulent activity.

Blacklist and Internal Audit Results

Binance’s internal audit identified repeated instances where individuals and companies improperly represented themselves as exchange-affiliated intermediaries and solicited payment for listing services.

As a result, seven organizations and individuals were blacklisted:

• DomABC
• Central Research
• Mai/Denny
• Andrew Li
• Suki Yan
• Fiona Li
• Kenny Zi

Binance noted that these parties were identified for falsely implying a relationship with the platform or providing paid listing services, and the company stated it is prepared to take legal action “as necessary.”

It was noted that one organization on the blacklist, Central Research, previously supported several crypto projects, including FireVerse, Nebula Revelation, AKI Network, ViewGenist, and Artefact. Currently, only ViewGenist (ACE) from these projects is trading on Binance. The exchange clarified that blacklist results do not affect prior token listing decisions.

Whistleblower Reward Program

Binance calls on the community to report any suspicious actions involving listing intermediaries. Whistleblowers providing verifiable evidence of fraudulent activity may receive rewards up to $5 million, depending on the quality and significance of the information.

Tightening Listing Rules Amid Insider Trading

As part of the update, Binance detailed the process of project advancement through the listing system — from early exposure on Binance Alpha and futures markets to final listing on the spot platform. The exchange confirmed that it charges no fees for listing applications and that all submissions must come directly from the project’s core team.

Binance warned that projects using intermediaries or third parties will be immediately excluded from current and future listing reviews. In contrast, teams proactively reporting fraudulent agents may receive priority consideration for their applications.

Earlier this month, the platform confirmed an incident involving a token listing leak inspired by the “Year of the Yellow Fruit” meme. Binance Co-CEO Yi He commented that the community sometimes launches tokens based on official Binance statements or Twitter posts, although these actions are unrelated to the exchange itself. She emphasized that the platform cannot fully control such publications but actively informs the community about legitimate procedures.

Binance also announced it has already allocated $100,000 as rewards to five whistleblowers who helped uncover the misconduct.

Conclusion

The blacklist, reward program, and tightened listing controls demonstrate Binance’s strategic approach to restoring trust in the token listing process. These measures come amid increasing pressure from investors, regulators, and the public to ensure transparency, internal control, and fair market practices.

Thus, Binance is taking comprehensive measures to protect projects and investors from fraudulent activity while encouraging the community to actively participate in identifying and preventing violations. This initiative underscores the platform’s commitment to creating a safe and transparent environment for all cryptocurrency market participants.