Binance Puts $5 Million Bounty on Fake Listing Agents as Scrutiny Intensifies

Binance, the world's largest cryptocurrency exchange, has launched a major crackdown on fraudulent third-party "listing agents" by offering a whistleblower reward of up to $5 million for verifiable evidence of such activity. This move comes as the exchange faces intense scrutiny over its listing practices, particularly following alleged insider trading incidents related to leaked token information. Binance explicitly warned that any individual claiming to influence listings for payment is fraudulent, as all listing applications must go through official channels for its Alpha, Futures, and Spot markets. An internal audit uncovered misrepresentations by several entities, leading Binance to blacklist seven parties, including BitABC and Central Research. The exchange also reiterated that it does not charge listing fees and that projects using intermediaries will be disqualified. Furthermore, Binance disclosed it previously rewarded five whistleblowers with $100,000 for exposing misconduct, signaling a broader effort to enforce transparency and rebuild trust in its listing process.

(Source：BeInCrypto)