Key dishes to remember
- An employee of Binance was taken in an initiate negotiation program using confidential information.
- A reward of $ 100,000 is distributed among the reporters who reported the incident.
Binance suspended an employee after an internal investigation revealed that the person engaged in the initiate offense linked to a generation of tokens (TGE), according to an announcement on Monday of the Binance Wallet account.
According to Binance, the employee, who has recently been transferred to the Binance portfolio team from a commercial development role at BNB Chain, would have used several portfolio addresses to buy tokens before his public launch announcement.
After the project has publicly disclosed the TGE, the employee sold part of their assets, guaranteeing substantial benefits while retaining additional tokens with significant unrealized gains.
“Take advantage of the information from his former position as well as his familiarity with chain projects, the employee knew that the project provided for a generation of token (TGE) event and provided that this would arouse significant community interest,” said Binance.
The internal audit team of the exchange launched an investigation on March 23 after receiving a complaint concerning the alleged first round.
The survey revealed that the individual used confidential knowledge acquired from their old position.
Binance said it would cooperate with the competent authorities and pursue legal action against the employee. The exchange also distributes a reward of $ 100,000 among four denouncators who reported the incident through official channels.
“At Binance, we maintain a principle first of users and we are engaged in transparency, equity and integrity. We have no tolerance for any fault,” said the exchange.
The company also encouraged community members to report any future concern via its official audit e-mail and promised to maintain a safe and trustworthy commercial ecosystem.
Source link
post url: https://altcoin.observer/binance-suspends-the-worker-on-the-initiate-offense-linked-to-the-generation-of-tokens/
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