Binance Increases Security with New Anti-Corruption Measures

Binance will pay users of the crypto platform from $10,000 to $5 million for information that allows them to identify corrupt employees. Binance co-founder Yi He announced that the exchange is revising its token listing procedures and creating a reward pool for reporting reliable information about corrupt personnel.

On social network X, she said that the exchange administration is extremely concerned about rumors in the crypto community about the corruption of some of the company’s employees. In particular, we are talking about the discussion related to the recent collapse in the price of Ronin (RON) tokens after listing on Binance. The token of the gaming blockchain project of the same name grew in price by more than 30% a week before the announcement, and an hour after Binance announced the listing, it collapsed by more than 26%.

Some members of the crypto community cited the leak of proprietary information inside Binance as the reason for the sharp drop in RON. In their conclusions, they refer to the opinion of Coinbase director Conor GROGAN, who stated that two weeks before the listing, several crypto wallets were actively buying Ronin tokens. Grogan suggested that the wallets may be linked to members of the Binance listing team.

Image: Binance

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