Exchange Binance is promising to offer up to $5 million to anyone providing information about any fraudulent behavior when listing tokens on the platform. This announcement follows reports from several Internet users who found the purchase of millions of BOME tokens before listing on Binance to be suspicious.
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Binance offers between $100,000 and $5 million
The exchange Binance is resolutely committed to maintaining a transparent trading environment and preventing any behavior that might undermine the fairness of the market. The platform promises a reward ranging from $100,000 to $5 million for anyone providing reliable information about possible fraud in the listing of tokens on its platform. Whistle-blowers can be sent by e-mail. The exchange promises not to reveal the identity of whistleblowers.
We are currently offering a reward of USD 100,000 to USD 5 million to any user who reports fraudulent behavior related to an information list or other fraudulent behavior. If you would like to report an incident, please contact us via e-mail audit@binance.com.
Binance
The announcement of Binance follows denunciations on suspicious behavior observed during the listing of the BOME token. On March 15, 2024, an investor spent $2.3 million to buy 314 million BOME tokens. The average price per token was $0.0074 at the time of purchase. One day later, Binance listed the BOME token on its platform. The price thus rose from $0.0074 to $0.026, enabling the investor to cash in nearly $5.8 million in 24 hours.
Insider trading at Binance or winning investment?
The purchase of 314 million of BOME shortly before its listing on Binance has caused a stir in the crypto community. Indeed, some Internet users consider that the person who made the purchase knew that Binance would list the token on its platform the following day, which would constitute insider trading. Some have even suggest that it could be an agent of Binance.
Other Internet users, on the other hand, believe that the investor was just lucky enough to buy the BOME token a day before it was listed on Binance. The exchange claims that the preliminary findings of its internal investigation reveal that the investor in question is not affiliated with Binance.
The investment of 2.3 million in BOME shortly before its listing on Binance legitimately arouses suspicion. Binance’s commitment to further in-depth investigations into this incident is honorable. It’s important to ensure transparency and fairness in the crypto market. This is even more important for Binance, whose business practices have been decried in Nigeria and in the US, to name but a few.
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