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Binance Takes Swift Action Against Insider Trading Allegations: Staff Suspended
Binance has taken immediate action in response to allegations of insider trading within its ranks. The exchange announced the suspension of several staff members amid ongoing investigations into suspected unethical practices.
In a statement, Binance emphasized its commitment to maintaining a “zero tolerance” policy when it comes to misconduct, adding that it intends to implement tighter internal controls and other policy improvements to prevent a repeat of such incidents.
Notably, Binance gave credit to the public for helping uncover the alleged misconduct and thanked those who brought the issue forward. The exchange has also incentivized people who filed reports using its official whistleblowing channel ([email protected]) with a sum of $100,000 split equally between four anonymous individuals to protect their interests.
The move demonstrates Binance’s dedication to creating a clean and credible trading ecosystem. This commitment is further highlighted by Yi He’s previous offer of bounties up to $10,000 for employees who report colleagues engaging in insider trading or leaking sensitive business information.
In related news, the exchange has launched a program to give its users full control over the tokens they list on Binance.
Source: https://www.cryptoninjas.net/news/binance-staff-suspended-amid-insider-trading-allegations/
