Bitcoin

<p>Binance, one of the world’s largest cryptocurrency exchanges, has suspended an employee after uncovering insider trading tied to a <strong>Token Generation Event (TGE)</strong>. The announcement was made on March 25, 2025, through Binance Wallet’s official X account.</p><blockquote> Investigation Findings on Staff Misconduct in TradingDear Binance Users and Community Members,On March 23, 2025, Binance’s Internal Audit team received a complaint alleging that one of our staff members engaged in front-running trades using insider information to gain… <a href="https://t.co/SVVvu4rX1x" rel="noopener noreferrer nofollow">pic.twitter.com/SVVvu4rX1x</a>— Binance Wallet (@BinanceWallet) <a href="https://twitter.com/BinanceWallet/status/1904352541615554611?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 25, 2025</a></blockquote><h2 id="header-0"><strong>Employee Exploited Confidential Information</strong></h2><p>The investigation revealed that the employee, who recently transitioned from a <strong>business development role at BNB Chain to Binance’s Wallet team</strong>, leveraged insider information. The individual used multiple wallet addresses to buy tokens before their public launch and later sold a portion for significant profits.</p><p>“Leveraging information from his former position and on-chain project familiarity, the employee anticipated the TGE would generate community interest,” Binance stated.</p><h2 id="header-1"><strong>Binance Launches Internal Investigation</strong></h2><p>Following a complaint on March 23, Binance’s <strong>Internal Audit team</strong> began investigating the alleged front-running activity. The findings confirmed the misuse of privileged information, leading to the employee’s suspension.</p><p>The company intended to <strong>cooperate with authorities</strong> and pursue legal action against the individual involved.</p><h2 id="header-2"><strong>Reward for Whistleblowers</strong></h2><p>To uphold its commitment to transparency, Binance distributed a <strong>$100,000 reward</strong> equally among four whistleblowers who reported the incident via official channels.</p><p>“At Binance, we prioritize fairness, transparency, and integrity,” the company emphasized, adding that misconduct of any kind will not be tolerated.</p><h2 id="header-3"><strong>Encouraging Community Vigilance</strong></h2><p>Binance urged community members to report any concerns through its official audit email. The exchange reaffirmed its dedication to maintaining a safe and trustworthy trading environment.</p><p>The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"></a><a href="https://cryptosnewss.com/binance-employee-caught-in-token-launch-scandal-legal-action-pending/" rel="noopener noreferrer nofollow">Binance Employee Caught in Token Launch Scandal, Legal Action Pending</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">CryptosNewss.com</a></p>

Binance Employee Caught in Token Launch Scandal, Legal Action Pending

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