New scandal at Binance? An employee of Binance Wallet was suspended after having used privileged information to make significant profits on a token, before the public announcement of a project. The largest cryptocurrency exchange platform in the world promises a rigorous investigation and already cooperates with the competent authorities.
Suspicion from the front-ringing on Binance
Binance is faced with a New initiate affair. The cryptocurrency exchanges announced on Tuesday that he had suspended an employee of his team Binance Wallet. He is suspected of having used confidential information to buy a large quantity of tokens before their official launch, then sold a game to cash in large profits.
According to Binance, this employee would have used sensitive data Obtained during his previous position as manager of commercial development at the BNB Chain, allowing to anticipate the launch of a token before its launch (TGE).
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In an official press release, the firm specifies that The Binance Wallet team itself did not have access to this sensitive information.
“This behavior constitutes front-running based on non-public information obtained within the framework of its previous functions, which represents a clear violation of the policies of the company”.
Such a practice within its teams does not help the image of Binance, even harming the transparency and the confidence necessary for the crypto ecosystem. Thus, the platform has announced encourage transparency and have rewarded the 4 whistleblowers who reported this case on his official denunciation channel. They shared $ 100,000.
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The affair of the same under the spotlight
If Binance has not explicitly unveiled the name of the project concerned by this initiate offense, several users of the X platform quickly identified the token in question. It would be the same Uuu (U Dex Platform), based on the BNB Chain.
User X “Pycharts” has published screenshots showing a portfolio address that would have Sold more than 6 million Uuu tokens In the morning of March 23, 2025, causing a sudden fall in its course.
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According to information published on X, the address involved would belong to Freddie NG, member of the Business Development and Growth “team from Binance Wallet.
The Official Chinese account of Binance indicated that it had read these “Information feedback” And announced the launch of an in -depth internal investigation, the results of which will be made public.
The platform also provides actively cooperating with the competent authorities and plans to prosecution according to the applicable laws.
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Source: X
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After training in journalism, I worked for a few years in general press before discovering the world of personal finance and the scholarship. Fallen into cryptos since 2020, I am particularly interested in the decryption of news that influence the Cryptos markets. My goal? Always teach my readers more by providing the most precise and the most just possible information.
Justine Ferrari
31 articles
