Binance comments the employee on the interior trading and front allegations

Binance suspended one of the accused employees using interior information from a previous role in the BNB series to launch a special code.

This procedure follows an internal investigation that was launched on March 23 after submitting a complaint to the stock exchange’s internal audit team.

Investigation

The suspect, who was part of the Binance Wallet team at the time of the alleged misconduct, should not be able to access non -general information about the relevant project. However, the platform’s investigation revealed that before he was transferred to the department, the employee was working in developing business in the BNB series.

Using visions of his previous role and familiarity with projects on the series, the accused expected the market’s reaction to the upcoming distinctive symbol generation (TGE). Before announcing the public launch, I used multiple wallet addresses associated with acquisition of many symbols. Then he sold a portion of his property for profit while maintaining the rest, which still gets large, not achieved gains.

“This behavior constitutes the front center based on the non -general information obtained from its previous role and is a clear violation of the company’s policy,” the Wallet team stated at X mail.

As a result, the employee was immediately suspended, and the company works with the authorities in its competence to follow up on legal procedures. She also confirmed that any assets related to the laws in force will be dealt with.

Doubt in society and bonuses

Binance also dealt with the role of community reports in exposing the accident, saying that despite the appreciation of general efforts, the rewards will only be granted to those who provided information through its official email to the violations.

A total of $ 100,000 will be distributed equally among four unknown individuals who used the official reports channel.

It is worth noting that the company did not reveal the identity of the suspect, but many X users referred to Freddy Ng, the former BNB operations manager, as the possible cause. Reports highlighted that his LinkedIn’s profile shows that he joined the Binance Wallet business team last month.

Joint screenshots by the user “PY” Display A portfolio was marked by Dex Screen to profit $ 82,400 from U Dex Platform (UUU). Metal currencies received from another portfolio initially funded the title “Freddieng.bnb”, which NG previously shared at the expense of social media.

The case reminds us of other encryption scandals, including the former coinbase director ISHAN WAHI, who was convicted in 2023 for leaking information list information. It is also similar to the interior trading status of the former Nate Chastain Producer, who was accused of using ETH Burner Secret to buy NFTS before displaying it on the platform.