War on Scams: Binance Launches $5M Bounty Program for Whistleblowers
Amid increasing scams and hacks, Binance, one of the largest crypto exchanges, has launched a $5 million bounty program aimed at exposing and preventing misconduct in the crypto listing process. The exchange offers this massive reward to the whistleblowers who expose this illicit act related to crypto listing agents.
Significantly, Binance’s bold move highlights its commitment to maintaining market integrity and protecting its users from unscrupulous actors. With a partial blacklist of rogue entities and individuals already in place, the exchange is sending the clear message that it will not tolerate fraudulent activities.
How Binance is Leading the Charge Against Scammers?
According to the latest official announcement, Binance has introduced a $5 million reward program to encourage information sharing that helps identify and prevent fraudulent schemes.
全网有偿征集相关欺诈人员的犯罪证据。 https://t.co/EJF7qWlzTK
— Yi He (@heyibinance) December 17, 2025
In an X post today, Binance Co-CEO Yi He reaffirmed this, stating that the exchange is offering up to $5 million to anyone providing evidence of fraudulent activities. She noted, “Offering a reward across the entire internet to collect criminal evidence related to the relevant fraudulent personnel.”
Exposing the Scammers: Binance’s Partial Blacklisting Revealed
As part of this effort, Binance has issued a public warning about Listing Agent scams, with He Yi revealing that the exchange has gathered extensive evidence of misconduct. The platform asserted that it doesn’t charge listing fees and urges investors to be cautious of third-party agents claiming to facilitate listing.
The exchange has partially blacklisted certain “Listing Agents,” including BitABC, Central Research, and Suki Yang, a former Pantera Capital team member. Also, May/Danny has been linked to Web3Port, a firm previously flagged by the exchange for suspicious market activity. The exchange warns that the list is not exhaustive and reserves the right to take legal actions against fraudulent actors.
Clarity and Security: Binance Unveils Diverse Listing Options
Binance has introduced a new token listing framework that emphasizes transparency and direct communication. The exchange has made it clear that it no longer allows listing agents or middlemen in the application process.
Projects must now apply directly through official Binance channels, and any attempts to use third-party intermediaries will result in disqualification and potential backlisting. This move aims to tackle rising scams involving token listing, where fraudsters demand fees for fake listing offers.
The exchange has now provided more clarity on its listing options, helping users to stay vigilant against fraudulent activities. The listing options aim to provide confidence in listed assets and help projects succeed.
Notably, the exchange offers three major listing options- Binance Alpha, Binance Futures, and Binance Spot. While Binance Alpha is a pre-listing platform for early-stage Web3 projects, Futures is a derivatives platform for trading and hedging. The former offers token distribution opportunities and community engagement programs, while the latter allows users to take long and short positions without holding underlying tokens.
At the same time, Binance Spot is a platform for buying, selling, and holding high-quality crypto assets, with opportunities for projects to increase exposure and user engagement.
In conclusion, Binance has taken a firm stance against fraudulent listing agents and intermediaries. With a clear warning to projects and a $5 million whistleblower reward program, the exchange is expressing its position clearly.
