Binance, the world’s largest encrypted currency exchange, has announced that it is equivalent to four informants who helped expose trading activities from the inside.
According to the Stock Exchange, the four individuals received a total of $ 100,000 after conducting an internal investigation resulting from a complaint about an employee participating in deals in the foreground to secure incorrect profits, Binance I mentioned On March 25.
Binance noted that after verifying the claims, she equally distributed the bonus of $ 100,000 among the four amounts who reported the case through the channels of the violations.
While the trading platform recognized additional reports publicly on X, the company explained that the rewards are strictly customized to submit applications through its specific reporting platform.
Investigations from the inside
According to the Binance Internal Auditing Team, the formerly accused employee worked in business development homes in the BNB (BNB) series before moving to the Binance Wallet team a month ago.
The investigation details revealed that the employee used information from his previous location to expect the distinctive symbol of the project (TGE) and gained a large number of symbols before the official announcement.
After the general examination, the employee sold part of the holdings to obtain great profits, violating the internal bince trading policies.
“Before announcing the launch of the general general symbol of the project, the employee used a multiple wallet address associated with the purchase of a large amount of distinctive symbols for the project. After the announcement, the employee quickly sold a portion of his holdings to achieve large profits, while the remaining funds kept with great incomplete gains.”
Binance has not officially revealed the symbols in the trading scheme from the interior, but the employee’s actions included the purchase of the distinctive symbols of the project before its public release.
Work against the employee
It is worth noting that the stock exchange stated that it had suspended the employee immediately and cooperates with the relevant authorities for possible legal procedures. Binance reaffirmed its commitment to transparency and fair trading practices.
The statement added: “We have no tolerance with any misconduct. We will continue to enhance internal controls, improve our policies, and ensure such incidents are not repeated.”
It should be noted that the interior trading speculation has been distributed within the encryption space, especially with the last cryptocurrency madness. Due to its size, Binance, in particular, contributed to increasing the prices of Meme coins after inserting the selected symbols, with some traders recorded enormous profits.
Distinctive image via Shutterstock
