The Binance internal security team has wrapped up a preliminary investigation into market manipulation via the platform’s official channels. The review confirmed that an employee exploited their position to promote a personal token for private gain. The company has immediately suspended the individual, who now faces legal consequences.
Timeline of Events
Auditors traced the chain of events to December 7. The suspect deployed a token on the blockchain at 05:29 UTC. Less than a minute later, a post featuring text and images related to this token appeared on the official Binance Futures page. This timing, combined with access to the corporate account, provided direct evidence of a code of conduct violation.
The exchange went beyond internal sanctions. In addition to the immediate suspension, the company contacted law enforcement in the employee’s jurisdiction. Platform representatives stated their intent to cooperate with investigators and ensure the individual is held accountable under applicable laws.
The investigation relied on reports from community members. Binance pledged to distribute $100,000 among five users who were the first to submit valid evidence through the official audit channel.
Changpeng Zhao Reacts
Exchange founder Changpeng Zhao also addressed the incident.
“Though I don’t run Binance anymore, if you report employee misconduct via DM or comment, I’ll channel it appropriately,” he wrote on X in response to the Binance Futures post.
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