Investigation Findings on Staff Misconduct in TradingšŖš
Dear Binance Users and Community Members,
On March 23, 2025, Binanceās Internal Audit team received a complaint alleging that one of our staff members engaged in front-running trades using insider information to gain improper profits. We took these allegations very seriously and immediately launched a thorough internal investigation. The preliminary investigation has now concluded, and we are sharing the findings below:
1. Investigation Summary
No insider trading related to Binance Wallet team:
At the time of the alleged incident, the individual was working within the Binance Wallet team, which has no business relationship or collaboration with the project involved. Therefore, the Binance Wallet team should not have access to any non-public information relating to the project.
Suspected misuse of prior role information for personal gain:
However, we found that the employee previously held a business development role at BNB Chain before joining the Wallet team one month ago. Leveraging information from his former position as well as his familiarity with on-chain projects, the employee was aware the project was planning a Token Generation Event (TGE) and anticipated it would generate significant community interest.
Prior to the projectās public token launch announcement, the staff member used multiple linked wallet addresses to purchase a large volume of the projectās tokens. Following the announcement, the staff member quickly sold part of his holdings to realize significant profits, while the remaining tokens retained considerable unrealized gains. This behavior constitutes front-running based on non-public information obtained from his previous role and is a clear breach of company policy.
2. Disciplinary Actions
Immediate Suspension: As a result of this behavior, the staff member was suspended immediately and pending further disciplinary action.
Legal Action: We will proactively cooperate with the relevant authorities in the employeeās jurisdiction and take appropriate legal action in accordance with applicable laws. Any associated assets will be handled in full compliance with applicable laws and regulations.
3. Whistleblower Reward
At Binance, we uphold a user-first principle and are committed to transparency, fairness, and integrity. We have zero tolerance for any misconduct. We will continue strengthening internal controls, refining our policies, and ensuring incidents like this do not recur.
We welcome continued community oversight and encourage anyone with valid information to report via our official channel ([email protected]). Together, we can uphold a transparent, healthy blockchain ecosystem and build a safer, more trustworthy trading environment for all users.
Therefore, for those who submitted valid reports via Binanceās official whistleblowing channel ([email protected]), we have completed the verification and de-duplication process. As committed, a total reward of USD 100,000 will be equally distributed among the following whistleblowers:
f****o@g****.com
r****d@g****.com
7****a@dappOS_com
4****9@q****.com
We also noticed that some reports were publicly shared on the X platform. We sincerely appreciate these efforts. However, to protect whistleblowersā interests, the reward applies only to valid reports submitted through our official channel ([email protected]). We also encourage the community to submit any future leads exclusively via this official channel.
Finally, we would like to sincerely thank our community for its continued trust and support.
Binance Team
March 25, 2025
This is officially statement by the Binnance Wallet on Twitter š²
nance #USTariff s #SECCrypto2.0 #BinanceAlphaAl #WhaleMovements