Binance has issued a firm warning to crypto projects and investors, urging them to steer clear of so called token listing agents and to report anyone claiming they can secure a Binance listing for a fee. The exchange says it is prepared to pay up to $5 million for credible tips that expose listing fraud.
Binance, the world’s largest cryptocurrency exchange by trading volume, says token listings can only happen through its official application channels. In a statement released Wednesday, the company stressed that projects should apply directly to Binance and never work with intermediaries promising fast track approvals.
The exchange noted that several individuals and firms have been falsely presenting themselves as Binance listing agents, often demanding payment in exchange for supposed insider access. Binance made it clear that it does not authorize anyone to offer listing services on its behalf and urged users to be cautious when approached.
Exchange Publishes Partial Blacklist of Alleged Fraudsters
As part of the announcement, Binance shared a partial list of entities and individuals accused of impersonating listing agents. The list includes Central Research, which claims to represent an investment research group, as well as crypto incubator BitABC.
It also names individuals such as Fiona Lee, who describes herself on social media as a former A share trader and altcoin liquidity provider. Binance emphasized that this list is not complete and encouraged the wider crypto community to stay alert and report suspicious activity through its official whistleblowing email.
Up to $5 Million Reward for Verified Reports
Binance said it is prepared to take strong action against anyone confirmed to be involved in listing fraud, including legal steps where necessary. To support this effort, the exchange is offering rewards of up to $5 million for information that leads to the identification of fraudulent brokers.
The company added that anyone contacted by people claiming to be Binance staff or representatives and asking for fees related to listings or trading support should report the incident immediately. Binance also reminded projects that all legitimate listing applications are submitted through official forms for spot listings, futures listings, and alpha featuring.