Binance commented one of its employees to violate the company’s policy on internal trading and the use of internal data for it in a new encoding project. The case includes a member of the Binance Wallet team, which claims that he bought a large amount of the distinctive symbol before TGE and then sold part of it to make good profit.
like I mentioned Written by Binance on Tuesday, the merchant misunderstood his work and knowledge from the date of his previous work in the BNB series. Although the wallet team cannot be familiar with specific details of these projects, the person used the information acquired from the business development features to shorten the project TGE.
According to Binance, this act is defined as “the front manager” and is against the company’s policies. The company noted that the employee was violating organizational policies, and the employee was immediately suspended. Binance also explained that this was not directly linked to the wallet team because the team could not access specific project information.
Memecoin project is linked to alleged trading from within
However, Binance did not reveal the project name behind this step, but the encryption world assumes that the distinctive symbol is Memeco UUU (U Dex), which belongs to the Binance Smart series project.
These speculation arose when a user was published with a pychars name, a screenshot that seemed to link the banner of the Binance employee. According to The Post, the portfolio sold more than 6 million UUu icons on March 23, when the price of the distinctive symbol decreased.
Alleged internal trading led to high fluctuations in the market, especially the UUU symbol, which witnessed a huge decrease in the price after sales. The X user attracted the attention of others and linked it with the title of the Freddie NG portfolio, a person known to work with the Binance Wallet and a team member in the Business and growth development department.
4 pictures to show you everything you must cleanhttps://t.co/54Q7PVnrfd pic.twitter.com/dz7s1ww0f86
– PY (@phychars) March 23, 2025
After allegations, Binance quickly responded. The company responded to social media users regarding this problem and mentioned that they had opened an investigation within the company. Binance also promised the public that it will reveal the result as soon as it ends.
Moreover, Binance mentioned its willingness to interact with the authorities in the country’s residence country and that it would compensate for individuals or organizations that detonated the whistle to $ 100,000.
Australia alerts encryption users when the personal transport fraud process
Meanwhile, Binance also faces other security challenges. Australian Federal Police recently brought out a Notice About a specific type of encryption fraud currently active in the country. More than 130 men and women have been identified as fraudulent in a fraud.
The fraudsters are now sharing the messages that mimic the Binance notifications and claim that the user’s encryption account may be at risk. Messages indicate that users are creating new portfolios in order to save their money and other valuable elements.
The fraud is very reasonable because the messages are carefully designed. The deceptive plan is to make the user send money to a “confidence” of the deception. Agence France -Presse has warned its users cautious about this fraud.
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