$5 million Whistleblower Reward: Binance Blacklists Fraudulent Agents

- Binance bans third-party listing agents, offers $5 million for actionable tips. - Exchange formalizes token listing process, blacklists fraud-linked entities. Binance, the world’s largest cryptocurrency exchange, is taking action against fraud in its token listing process. The company banned third-party listing agents and now offers a $5 million incentive to whistleblowers who expose fraudsters. These initiatives aim to strengthen trust in its platform by curbing scams and ensuring the integrity of token listings. On December 17, 2025, CoinDesk and other outlets reported that Binance formalized its token listing framework. The exchange now urges projects to apply directly through its official channels: Binance Alpha, Binance Futures, and Binance Spot. Furthermore, Binance emphasized that token listings are free and warned that it will disqualify and blacklist any project that uses a third-party listing agent. This policy targets fraudulent intermediaries who falsely claim inside connections to Binance and charge fees for guaranteed listings. Additionally, Binance blacklisted several individuals and entities for misrepresenting affiliations with the exchange. The list includes Central Research, May/Dannie, Andrew Lee, BitABC, Suki Yang, Fiona Lee, and Kenny Z. Binance will pursue legal action where appropriate to hold these parties accountable. To demonstrate its commitment to fair practices, Binance recently suspended an employee over insider trading allegations linked to a token listing. As part of a broader effort to maintain fairness and security, the exchange has also banned over 600 accounts associated with unauthorized third-party tools like automated bots. By offering a $5 million reward, Binance encourages community members to report malicious activities. This proactive approach to addressing fraud reflects the company's ongoing focus on transparency. As a result, these measures help safeguard the integrity of its platform amid regulatory scrutiny and evolving market challenges.