Overview
- Binance said its internal audit opened an investigation on Dec. 7 after a report that a staffer posted promotional material via the @BinanceFutures X account seconds after the token’s 05:29 UTC issuance.
- The employee was immediately suspended and has since been laid off, with Binance calling the conduct an abuse of position for personal gain that violated company policy.
- The exchange verified multiple submissions to its whistleblowing channel and will award a total of $100,000 split equally across five validated whistleblowers.
- Binance has contacted authorities in the employee’s jurisdiction and plans to pursue legal action in line with applicable laws.
- The company asked users to submit future tips to its audit email rather than post on X, noting it also suspended a Wallet-team member in March over a separate alleged front-running case.