Binance has disclosed that several individuals and entities have been blacklisted following an internal audit, as the crypto exchange steps up efforts to combat fraud linked to false claims around token listings.
In an announcement, Binance said its internal review identified BitABC, Central Research, May / Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z as entities or individuals barred from engagement.
According to Binance, these parties were involved in activities where they allegedly misrepresented themselves as “Binance listing agents,” misleading projects and investors by claiming influence over the exchange’s token listing process.
Binance emphasized that it does not authorize third parties to act as listing intermediaries and warned that any claims of guaranteed listings or paid access to Binance’s listing decisions are fraudulent. The exchange said projects should rely only on official Binance channels when applying for listings or partnerships.
Blockchain data platform Rootdata reported that one of the blacklisted entities, Central Research, had invested in multiple crypto projects, including Fireverse, Nebula Revalation, AKI Network, Fusionist, and Artyfact.
Of these projects, only Fusionist, whose token ACE is traded on Binance, has been listed on the exchange, highlighting the lack of correlation between the alleged intermediaries’ claims and actual listing outcomes.
In response to the issue, Binance Co-CEO He Yi said the company is offering a reward of up to $5 million to individuals who provide verifiable evidence of fraudulent behavior by people posing as Binance listing agents.
The reward program is aimed at encouraging whistleblowers to come forward with credible information that can help Binance identify and take action against bad actors.
The announcement comes amid heightened scrutiny of token listing practices across the crypto industry, where rumors of paid listings and insider access have long circulated.
Binance said it continues to strengthen internal controls, audits, and compliance processes to protect users and maintain transparency around how assets are evaluated and listed.
The exchange reiterated that its listing decisions are based on internal reviews of project fundamentals, compliance, and risk factors, and not on payments or external influence.