Binance is taking strong action against fake intermediaries posing as listing agents, offering a $5 million whistleblower reward as part of a broader crackdown on token listing fraud.
Key Takeaways
- Binance has blacklisted seven individuals and firms for falsely claiming to represent the exchange in token listing deals.
- A $5 million bounty is being offered for valid, verifiable information about fraudulent listing activities.
- Projects must apply through official Binance channels, with no authorized third-party agents involved in listings.
- The move comes after internal issues with leaked listing data, prompting Binance to strengthen controls.
What Happened?
Binance, the world’s largest cryptocurrency exchange by trading volume, issued a public warning about fraudulent third-party listing brokers. The company released an updated framework for token listings across its Spot, Futures, and Alpha markets while reinforcing that all applications must go through official Binance channels. No outside agents are authorized to assist or influence listings.
This initiative follows increasing reports of impostors pretending to be Binance-affiliated intermediaries. These individuals have been charging token teams for services they falsely claimed could help secure listings on the exchange.
Anyone claiming to be able to help you with a Binance listing is a scammer.
— CZ 🔶 BNB (@cz_binance) December 17, 2025
If you see anyone (including middleman, consultants, ex- or current employees) claiming it, please report it. They will be added to a blacklist, and sometime even published.
I recently had a country…
Binance Exposes Fake Brokers and Offers a $5M Bounty
In a significant transparency push, Binance named seven entities and individuals now on its internal blacklist:
- BitABC
- Central Research
- May/Dannie
- Andrew Lee
- Suki Yang
- Fiona Lee
- Kenny Z
These parties were flagged during an internal audit for either falsely claiming affiliation with Binance or soliciting payment for illegitimate listing support. Binance warned that the list is not exhaustive and has urged the crypto community to remain vigilant.
The exchange has pledged to take legal action against identified fraudsters and is offering up to $5 million in rewards for valid whistleblower reports. According to its statement.
Whistleblower tips can be submitted via the official reporting email: audit@binance.com.
Fake Agents Exploit Listing Hype and Founder Pressure
The crypto listing process is often shrouded in secrecy, and founders are under immense pressure to secure placements on top exchanges. This has created opportunities for fraudulent brokers to exploit eager project teams, offering “exclusive access” or “fast-tracked listings” in exchange for large fees.
Binance’s crackdown includes:
- Publishing a revised token listing framework that outlines official procedures and communication guidelines.
- Urging project founders to ignore any claim of insider access or backdoor influence.
- Reinforcing that no external party can guarantee or expedite the listing process.
These measures follow a recent internal controversy where a Binance employee leaked details about a potential memecoin listing dubbed the “year of the yellow fruit”, which caused market speculation. The exchange confirmed internal disciplinary action had been taken and that additional controls were now in place.
Market Impact and Broader Listing Integrity Concerns
Token listing rumors can drastically move markets. When insiders or impersonators leak or fake such details, it creates unfair advantages and manipulates investor behavior. Binance is now working to eliminate these vulnerabilities both internally and externally.
One of the blacklisted groups, Central Research, has invested in several projects like Fireverse, Nebula Revelation, AKI Network, Fusionist, and Artyfact. Binance clarified that its decision to blacklist the group is not linked to any of these projects, and only Fusionist (ACE) is currently listed on Binance.
CoinLaw’s Takeaway
Honestly, I’ve seen this problem bubble under the surface for a while. In my experience, when there’s a lack of transparency, opportunists will always rush in. This $5 million reward is a bold move by Binance, but also a necessary one. I found their decision to name names particularly powerful. It sends a message that pretending to be a gatekeeper is no longer a low-risk hustle. If you’re launching a token, stay sharp. If someone offers “exclusive Binance access,” run the other way. Listings are already hard enough without getting scammed in the process.
