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Binance Takes Action Against Employee for Trading Violations
March 25, 2025 | Regulatory News | Blockchain News Media
Binance has suspended one of its employees and is reviewing further disciplinary measures following an internal investigation into allegations of insider trading. The employee in question allegedly used non-public information gained from their prior role at BNB Chain to profit from a token launch.
According to reports, the staff member worked within the Binance Wallet team but had previously been employed by BNB Chain. Despite having no connection to the project in question, they utilized knowledge from their previous position to buy large amounts of tokens before the official announcement and then sold part of their holdings for significant profits.
Binance has launched an investigation into the allegations and concluded that the employee’s actions were a violation of its policies. The company promptly took action against the staff member by suspending them, stating that “immediate action was taken” in response to the findings.
It appears that Binance is committed to maintaining transparency and fairness within its operations, as it has strengthened internal controls and policies to prevent similar incidents from occurring in the future. To ensure compliance with regulations, Binance urged users to report any suspicious activity through official channels to protect whistleblowers’ security and privacy.
In an unprecedented move, Binance decided to reward those who exposed the misconduct. The company awarded $100,000 to four separate whistleblowers for reporting their suspicions using its internal reporting system.
Source: https://cryptotale.org/binance-takes-action-against-employee-for-trading-violations/
