The Binance administration intends to pay users of the cryptocurrency platform from $10,000 to $5 million for information that allows them to identify corrupt employees.
Binance co-founder Yi He announced that the exchange is reviewing its token listing procedures and creating a reward pool for reporting reliable information about corrupt personnel. In a series of messages on the social network X, she said that the administration of the exchange is extremely concerned about rumors in the crypto community about the corruption of some of the company’s employees.
In particular, we are talking about the discussion related to the recent collapse in the price of Ronin (RON) tokens after listing on Binance. Let us remind you that the token of the gaming blockchain project of the same name grew in price by more than 30% a week before the announcement, and an hour after Binance announced the listing, it collapsed by more than 26%.
Some members of the crypto community cited the leak of proprietary information within Binance as the reason for the RON dump. In their conclusions, they refer to the opinion of Coinbase director Conor Grogan, who stated that two weeks before the listing, several crypto wallets were actively buying Ronin tokens. Grogan suggested that the wallets may be linked to members of the Binance listing team.
Previously, the Binance cryptocurrency exchange denied accusations of a possible leak of user data and stated that the exchange’s client security systems function without failures.
