Binance, the world’s largest cryptocurrency exchange by trading volume, has announced a sweeping crackdown on individuals and entities accused of falsely claiming influence over its token listing process. The move follows an internal audit that identified multiple parties allegedly misrepresenting themselves as “Binance listing agents.”
Internal Audit Uncovers Alleged Misrepresentation
In its announcement, Binance said the decision followed an extensive internal review aimed at identifying misconduct related to token listings. The audit found that certain individuals and firms allegedly misled crypto projects and investors by claiming they had the ability to influence Binance’s listing decisions.
The exchange named BitABC, Central Research, May / Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z as entities or individuals that are now barred from engagement with Binance.
According to Binance, these parties allegedly presented themselves as intermediaries capable of securing guaranteed token listings on the exchange, a claim Binance categorically denied.
Binance Rejects Third-Party Listing Intermediaries
Binance emphasized that it does not authorize third parties to act as listing agents or intermediaries. The company warned that any claims suggesting guaranteed listings, paid access, or insider influence are fraudulent.
“Binance does not permit external agents to influence listing outcomes,” the exchange said, urging projects to rely solely on official Binance channels when applying for listings, partnerships, or other collaborations.
The warning reflects a broader effort by Binance to dispel long-standing rumors in the crypto industry regarding paid listings and preferential treatment.
Blockchain Data Highlights Lack of Listing Influence
Blockchain analytics platform Rootdata reported that one of the blacklisted entities, Central Research, had invested in several crypto projects, including Fireverse, Nebula Revalation, AKI Network, Fusionist, and Artyfact.
Despite these investments, only Fusionist, whose token ACE trades on Binance, has been listed on the exchange. Binance noted that this outcome further undermines claims that alleged intermediaries had any real influence over listing decisions.
The exchange said the data reinforces its position that listings are determined through internal evaluation processes rather than external connections or financial incentives.
$5 Million Whistleblower Bounty Announced
In response to the issue, Binance Co-CEO He Yi announced a reward of up to $5 million for individuals who provide verifiable evidence of fraudulent behavior involving fake listing agents.
The bounty program is designed to encourage whistleblowers to come forward with credible, documented proof that can help Binance identify and eliminate bad actors from the ecosystem.
Binance said the reward amount will depend on the quality, significance, and verifiability of the information provided.
Heightened Scrutiny Across the Crypto Industry
The announcement comes amid increasing scrutiny of token listing practices across the cryptocurrency sector. Allegations of paid listings, insider access, and undisclosed conflicts of interest have circulated for years, particularly during market cycles marked by rapid token launches.
Binance stated that it is actively strengthening internal controls, audits, and compliance mechanisms to prevent abuse and maintain transparency.
The exchange said its actions are part of a broader industry trend toward tighter governance as regulators and users demand greater accountability from centralized platforms.
How Binance Says Listings Are Evaluated
Binance reiterated that its token listing decisions are based on internal reviews that assess a range of factors, including:
- Project fundamentals and technology
- Regulatory and compliance considerations
- Security and risk management
- User protection and ecosystem impact
The exchange stressed that listings are not influenced by payments, promises, or external pressure, and that any attempt to suggest otherwise should be treated as a red flag.
Protecting Projects and Investors
By publicly naming banned parties and launching a sizable bounty program, Binance aims to protect both project teams and investors from deceptive practices.
The exchange encouraged crypto startups to conduct due diligence and to report suspicious behavior to Binance through official channels.
“Transparency and trust are essential to the long-term growth of the crypto industry,” Binance said, adding that bad actors undermine confidence and harm legitimate innovation.
Outlook
Binance’s crackdown signals a more aggressive stance against fraud tied to token listings as the exchange works to preserve credibility amid increased regulatory and public scrutiny.
With a $5 million bounty on the table and a clear warning against fake listing agents, Binance appears intent on sending a strong message: access to its platform cannot be bought or brokered through unofficial means.
As the crypto market matures, industry observers expect similar actions from other exchanges seeking to strengthen compliance and restore trust.