Binance, the world’s largest cryptocurrency exchange, is fighting back against scammers pretending to be token listing agents for the platform. The company announced that it’ll pay up to $5 million for solid tips that lead to the busting of these fraudsters. This step is meant to keep people from taking advantage of crypto projects by charging fake fees to get tokens listed on the platform.
The development came to light in a transparency update published on December 17, 2025 on the company’s website. Binance warned in its announcement that no third party has the authority to negotiate or guarantee token listings. They urged projects to use only official channels for applications to be listed. The exchange has also published a partial blacklist of seven alleged fake agents, including names such as Central Research, BitABC, Suki Yang, and Fiona Lee, who they say have misrepresented themselves and solicited fees from token projects.
The stringent measures came to light after a former employee was fired for insider trading in connection with a leaked memecoin listing. In another instance, an employee was suspended for using a company social media account to promote a new token. The exchange responded by rewarding whistleblowers who reported these incidents and reaffirmed its commitment to transparency.
Over the years, Binance has faced heat over these scams. Back in 2023, U.S. regulators like the SEC and CFTC hit the exchange with charges over unregistered operations and other issues, though not directly about listing agents. But the real problem has been con artists tricking projects into paying for guaranteed spots. Victims, often new token teams, have reported losses, accusing fake agents of posing as Binance insiders.
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Changpeng Zhao, or CZ, Binance’s founder, has long called out these hustles. In past tweets and posts, he’s warned that anyone promising to “run” a listing is a total scam. Just last week, he shared how he turned down a country’s president who asked for special treatment on a token, no exceptions, he said.
