Binance has suspended an employee following an internal investigation into allegations of using insider information for personal gain. The incident highlights the company’s commitment to ethical standards and transparency.
Allegations Against Employee
On March 23, 2025, Binance received a complaint alleging that an employee engaged in trading using insider information for profit. This employee previously worked with the BNB Chain team and allegedly used confidential information about an upcoming Token Generation Event to purchase and subsequently sell tokens using connected wallets.
Actions Taken by Binance
After confirming the facts, Binance promptly suspended the employee. The company confirmed its readiness to cooperate with law enforcement and is considering additional disciplinary measures. Binance reiterated that using confidential data for personal gain is unacceptable and against the company's norms and ethical principles.
Enhancing Transparency
Binance continues to support transparency policies, allocating $100,000 to encourage whistleblowers who provided information through the official audit channel. The company stated that only submissions through this channel are eligible for the reward, allowing for confidentiality protection and strict verification.
Binance reaffirms its commitment to integrity and states its intention to continue refining internal policies and processes to avoid similar situations in the future. The company urges users and staff to report any suspicious activity through official channels.
