Binance warns of fake listing agents, offers $5 million rewards
Binance has warned market participants to avoid token listing agents and announced rewards of up to $5 million for whistleblowers who report listing-related fraud.
On Wednesday, Binance published a transparency notice on its listing process, outlining the available listing options across its platforms, project requirements, and security reminders related to intermediaries claiming to offer listing services for the world’s largest crypto exchange.
Binance advised projects not to engage with any third-party organizations and to apply for listings directly through the exchange. The crypto exchange also released a list of individuals and entities falsely claiming to be “Binance listing agents” and offering paid access to listings on Binance.
“Please remain vigilant and remember that Binance does not authorize anyone to provide such services,” the exchange said, adding that it offers substantial rewards for verified information related to listing scams.
Up to $5 million for exposing listing schemes
According to Cointelegraph, Binance’s published list—which the exchange noted is not exhaustive—includes seven individuals and entities, such as Central Research, crypto incubator BitABC, and individuals named Fiona Li, Suki Yang, and Kenny Z.
“If you are contacted by anyone claiming to be a Binance employee, partner, or representative — offering paid trading support, listing assistance, or any other form of compensation — please report it to us immediately,” Binance said. “We offer rewards of up to $5 million to whistleblowers who provide verified information.”
Binance also emphasized that projects seeking listings can apply directly through official channels, including Spot Listing, Futures Listing, and Alpha Featuring.
According to CoinGecko data, Binance processes around $11 billion in daily trading volume and lists approximately 440 crypto assets. However, despite its scale, the exchange has frequently faced criticism over perceived shortcomings in its token listing process.
Binance founder Changpeng “CZ” Zhao has previously acknowledged that the listing process is imperfect and suggested that centralized exchanges could move toward automated listings similar to those used by decentralized exchanges (DEXs).
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