• Binance bans third-party listing agents to prevent fraud on its platform and protect token projects.
• Seven individuals and entities are blacklisted for falsely claiming ties with Binance or offering listings.
• Binance offers a $5 million reward for verified reports of listing scams or insider leaks.

Binance issued a transparency update on Wednesday detailing its token listing process. The exchange outlined procedures for Alpha, Futures, and Spot markets. It also warned against third-party “listing agents” claiming to act on its behalf. Projects must submit listing applications exclusively through official Binance channels. The exchange emphasized that external brokers or intermediaries are not authorized to influence listings.

Binance highlighted repeated cases of individuals misrepresenting themselves as Binance-linked facilitators. These parties often solicit payments from project founders, offering false promises of guaranteed listings. To address this, Binance published its formal listing framework. The exchange urged projects to report any claims made outside official portals. It also announced a reward of up to $5 million for verifiable evidence of wrongdoing.

Blacklisted Entities Identified

Binance revealed seven individuals and entities now on its internal blacklist. The list includes BitABC, Central Research, May/Dannie, Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z. These parties were identified through an internal audit for falsely implying connections with Binance. They were also found offering listing-related services for a fee. Binance plans to pursue legal action where appropriate.

Data from RootData shows that Central Research supported projects including Fireverse, Nebula Revelation, AKI Network, Fusionist, and Artyfact. Only Fusionist (ACE) currently trades on Binance. The exchange did not link past listings to the blacklist.

Insider Leak and Fraud Measures

The announcement follows an internal investigation linked to leaked listing information for the “year of the yellow fruit” memecoin. An employee shared listing details with a third party. Binance disciplined the employee and introduced new controls to prevent predatory behavior.

The exchange also banned more than 600 accounts connected to unauthorized third-party tools. These tools exploited automated bots and scripts to gain unfair advantages on listing platforms.

Binance emphasized that token listings are free. It clarified that no individual or entity can guarantee listings in exchange for payments. Projects using such agents risk disqualification and blacklisting.

Official Listing Channels

Binance outlined three official listing channels. Binance Alpha focuses on early-stage projects through Pre-Token Generation Events, Prime Sale Pre-TGEs, TGEs, Alpha Airdrops, and community programs. Binance launched Binance Alpha late last year.

Binance Futures allows projects access to liquidity and position hedging. Binance Spot enables users to buy, sell, and hold high-quality crypto assets. Additionally, Binance has introduced Binance Junior, a new platform designed for parents to manage crypto savings for their children. The exchange encouraged market participants to report any suspicious activity. It aims to strengthen security and minimize fraud in token listings.

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