What To Know:
- Binance has blacklisted several entities and individuals, including BitABC and Central Research, after an internal audit, warning that legal action will be taken against fraudulent intermediaries posing as Binance representatives.
- The exchange has launched a whistleblower initiative offering rewards of up to $5 million for verified leads.
- Binance has urged users and projects to report scams through its official audit channel with preserved evidence.
Binance has blacklisted a group of entities and individuals following an internal audit, in a renewed push to curb fraudulent intermediaries and reinforce controls around project listings. The blacklisted names include BitABC, Central Research, May, identified as a partner of Web3Port and also known as Dannie, along with Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z.
Binance Blacklists Individuals For Secured Listing
The move is a part of Binance’s attempt towards addressing a rise in scams linked to individuals falsely claiming to represent the exchange. Binance said it would take “strong measures,” including legal action, against intermediaries identified through whistleblower reports. The company reiterated that it does not charge fees for listings or trading support and warned users and project teams against paying anyone claiming to offer guaranteed access to Binance services.
In its statement, Binance urged the community to remain vigilant. Anyone approached by individuals posing as Binance employees, affiliates, or agents and requesting payments for listings, trading support, or advisory services has been asked to report the interaction immediately. Binance has also offered whistleblower rewards of up to $5 million for information that leads to verified cases of fraud.
Reports can be submitted through Binance’s official audit channel, with the exchange encouraging individuals to preserve evidence such as screenshots, call recordings, and written communications.The company said community oversight plays a critical role in identifying bad actors operating both within and beyond the crypto ecosystem.
Binance co-founder and Chief Customer Service and Security Officer Yi He shared on X that the firm is prepared to pay for evidence of crimes committed by fraudsters across the broader internet, not limited to Binance-specific cases.
全网有偿征集相关欺诈人员的犯罪证据。 https://t.co/EJF7qWlzTK
— Yi He (@heyibinance) December 17, 2025
Alongside the blacklist announcement, Binance published a detailed blog outlining its listing framework, seeking to clarify how projects can legitimately access the exchange. The company said the goal is to maintain a transparent and structured system that prioritizes user protection, regulatory compliance, and the long-term quality of listed assets.
Binance outlined three primary listing pathways: Binance Alpha, Binance Futures, and Binance Spot. Binance Alpha serves as an early-stage screening platform designed to surface promising Web3 projects and support token distribution through mechanisms such as pre-token generation events, alpha airdrops, and community engagement programs.Projects that demonstrate strong fundamentals may progress to Binance Futures, where perpetual contracts offer liquidity and hedging tools. The final stage is Binance Spot, which allows direct buying, selling, and holding of tokens.
The exchange explained that projects are assessed based on their lifecycle stage and token status, ranging from early projects without immediate token plans to mature tokens already in circulation. Each category corresponds to specific listing products, including Launchpool, Megadrop, HODLer airdrops, and derivatives listings.
Binance said progression through these stages depends on a comprehensive evaluation that includes product quality, real-world use cases, token utility, user growth, business models, team background, technology risk, and compliance reviews.For tokens already trading elsewhere, factors such as liquidity, valuation, and distribution are also considered.
The company reiterated a strict rule against third-party intermediaries. Applications must come directly from project founders or core team members, all of whom are required to complete know-your-customer verification. Any project found to have used external agents will face immediate disqualification and potential blacklisting. Binance added that projects that proactively report intermediaries may receive priority review.
Also Read: Binance Suspends Employee Amid Insider Trading Investigation Claims
